Every time you buy foreign exchange or send money abroad under the Liberalised Remittance Scheme, you sign Form A2. It is short, but it matters.
What you declare
- Who you are — name, PAN, address.
- The purpose — private travel, education, maintenance of a relative, gift, medical treatment and so on.
- How much you have already used under LRS this financial year, across all banks and money changers.
- That the money is your own and the purpose is genuine and permitted.
Who signs
The person whose LRS limit is used — the traveller or the remitter. For a minor, a parent or guardian signs on the child's behalf.
Why it matters
The amount you declare is used to work out TCS and to make sure you stay within the USD 2,50,000 yearly limit. Under-declaring earlier purchases can lead to the wrong TCS being collected — and the declaration is legally yours.
How we handle it
On GoRemit, Form A2 is filled from your order and shown to you before you sign. Keep the copy we send — it supports the TCS credit in your tax return.
