Liberalised Remittance Scheme (LRS) Application Cum Form A2 - Only for resident customers 2026

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  1. Click ‘Get Form’ to open the Liberalised Remittance Scheme (LRS) Application Cum Form A2 in the editor.
  2. Begin by filling out the 'Account Holder Information' section. Enter your debit account number, PAN number, and select your account type as either 'NRI' or 'Resident'. Ensure you indicate if your account is more than one year old.
  3. Proceed to the 'Payment Details' section. Specify the remittance currency and amount, both in numeric and words. Indicate the source of funds and purpose of payment clearly.
  4. In the 'Beneficiary Bank Details', provide necessary information such as bank code, routing number, and beneficiary's full name along with their address.
  5. Complete any optional sections like 'Intermediary Bank' if applicable. Fill in details regarding fund transfer charges and ordering party details if you're making a third-party payment.
  6. Review all entries for accuracy before clicking ‘Print & Validate Form’ to generate a barcode. Save your completed form for future reference.

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Did you know? Non-Resident Indians (NRIs) cannot remit money under LRS and hence are not liable to pay TCS while remitting money from India. TCS rates vary depending on the purpose of the remittance and the total amount being transferred.
LRS scheme for NRIs They are permitted to transfer up to USD 10,000 from an NRO account. No limitations apply to payments made from an NRE or FCNR account.
RIs are eligible to avail benefit of LRS. The person must be a person resident in India as per FEMA. Once an individual is a resident under FEMA, he is eligible to avail benefits of LRS, whether or not he is an Indian citizen. However, LRS is not available to corporates, partnership firms, HUF, Trusts, etc.
All resident individuals, including minors, are eligible, but the scheme is not available for corporates, HUFs, trusts, etc. 3. Are there any prohibited transactions under LRS? Yes, remittances for purposes like lottery tickets, margin trading, or transactions with FATF non-cooperative countries are prohibited.
How to Fill Form A2 For Remittance Abroad Simple Guide Application Part (For Money Transfer Abroad) Step 1: Details of the Applicant (Remitter) Step 2: Details of the Foreign Exchange Required. Step 3: Details of the Beneficiary Abroad. Declaration Part. Step 4: Details of Remittances Done in Current Financial Year.

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People also ask

Non-Resident Indians (NRIs) are generally exempt from TCS on their foreign remittances, as the LRS framework is designed for residents. NRIs typically manage their Indian income through Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts.
Who is eligible for LRS? Indian residents, apart from corporates, partnership firms, HUFs, etc., are eligible for LRS. Even minors are eligible for LRS, given that their guardian signs Form A2.