RBI FORM A2 UPDATE 2026
WHAT IS RBI FORM-A2 UNDER FEMA
Form A-2 is required whenever an individual or entity in India wishes to
make an outward remittance (send money) or purchase foreign exchange for
non-trade (current account) transactions
REMOVAL OF REMITTANCE LIMITS:
RBI Circular No. 23 dated 1
October 2026 reiterates that Form A2 can be submitted online or physically for
cross-border foreign exchange remittances, irrespective of the transaction
amount.
REVISED APPROVAL MECHANISM:
Authorized Dealer (AD) Category-I banks and AD Category-II entities can
now frame internal guidelines with approval from their Board, Board Committee
or Management Committee.
CONTINUED COMPLIANCE OBLIGATIONS:
AD banks must continue to ensure FEMA compliance, KYC verification,
supporting documentation and applicable TDS requirements before processing
outward remittances.
NEW INCOME TAX FORMS REPLACING FORM 15CA & 15CB:
From 1 April 2026, Form 145
replaces 15CA and Form 146 replaces Form 15CB under the Income-tax Act, 2025.
The applicable filing requirements and tax compliance obligations continue.
# R V SECKAR, FCS, LLB 79047 19295,
No comments:
Post a Comment