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1. How much foreign exchange can be taken for a trip abroad?

Foreign exchange can be taken under private visit category governed by the overall LRS limit of USD 2,50,000 per traveller in a single financial year, as per regulations. However, only USD 3000 of that amount can be carried as currency notes for a particular trip– the balance has to be in the form of prepaid forex cards.

2. What are the various documents required to purchase foreign currency?

You will need your passport, PAN, a valid visa, and a confirmed air ticket.

3. Can I place my order on a holiday through the GlobalPay App?

Yes, you can place an order through the App however the transaction will be processed on the next working day.

4. What if my trip is cancelled or postponed after buying forex?

In the event of cancellation of the journey, the foreign exchange drawn for this specific travel must be surrendered within 60 days from the date of its purchase.

5. Will I have to submit my transactional documents physically after uploading in the GlobalPay App?

Yes, our service executive will pick up the physical documents from your mentioned address on the app. Please make sure to keep them ready and signed on time.

6. How do I know that my order placed in the GlobalPay App is confirmed?

Once you complete your order on the Global Pay App, we will send you a confirmation mail and an SMS to the registered email address and mobile number you enter at the time of Sign up. In this mail, you will be provided with a "Unique Order Reference Number" along with your order details.

7. How long does it take you to provide doorstep delivery?

Orders received will be delivered at the time and address mentioned by you in the Global Pay App.

8. Are rates published on the Global Pay App updated?

The rates published on the Global Pay App are updated on real time basis as they are connected to the live market.

9. Can I purchase multiple currencies & products in one order in the Global Pay App?

Yes, you can add multiple currencies & products you wish to purchase in one order. You just need to add the currency/product in the order cart and proceed.

10. Is one required to surrender foreign coins also to an authorized dealer?

There is no restriction on residents holding foreign coins.

11. What documents do I need when surrendering or selling currency?

While surrendering currency we will need your identification doc and proof of address. If the amount exceeds USD 5,000 in cash or exceeds USD 10,000 in total, you will also need a Currency Declaration form.

12. Can a third party make payments on my behalf to buy foreign exchange?

No, third party payment is not allowed as per RBI guidelines.

13. Who can pay for my foreign exchange?

o Self
o Spouse
o Father or Step Father
o Mother or Step Mother
o Son and step son
o Son's Wife
o Daughter
o Daughter's husband
o Brother or Step brother
o Sister or Step Sister

14. Are children and minors also entitled to foreign exchange when they travel abroad?

Yes, children of all ages are allowed same entitlements (limits) as adults, But Minors/children below age of 12 cannot carry Forex card/Travellers cheque.

15.Can Nonresident Indians, foreigners buy foreign exchange for personal / leisure travel?

* The foreign nationals must stay in India minimum 3 years and above , having pan card , permanent residency in India and also applicant is not availing of facilities for remittances of his salary, savings,etc ., abroad in terms of extant regulations
* Similarly, Foreign born wife of an Indian national staying in India minimum 3 years and above , having pan card , permanent residency in India and also applicant is not availing of facilities for remittances of his salary, savings, etc., abroad in terms of extant regulations

16.What is the definition of an Indian resident?

"Person resident in India" is defined in Section 2(v) of FEMA, 1999 as :
A person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include:

1. A person who has gone out of India or who stays outside India, in either case -
* For taking up employment outside India
*For carrying on outside India a business or vocation
*For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period

2. A person who has come to or stays in India, in either case, except:
* For taking up employment in India
* For carrying on in India a business or vocation in India
* For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period
* Any person or body corporate registered or incorporated in India
* An office, branch or agency in India owned or controlled by a person resident outside India
* An office, branch or agency outside India owned or controlled by a person resident in India

17.How much forex can be brought into India by a foreigner or a Nonresident Indian?

No limit on amount of foreign exchange that can be brought into India. However, currency notes beyond USD 5000 (equivalent) and up to USD 10000 (total) need to be reported at customs and currency declaration form (CDF) obtained
CDF is required whenever currency / forex surrender exceeds respective limits

18. How much is the GST on foreign exchange transactions?

GST on foreign exchange transactions is charged as per Rule 32(2) of the CGST Rules, 2017 under the CGST Act.

The applicable slabs are given below:

Up to Rs. 1,00,000: 0.18% of the gross amount of forex exchanged, subject to a minimum of Rs. 45.
Above Rs. 1,00,000 and up to Rs. 10,00,000: Rs. 180 plus 0.09% of the gross amount of forex exchanged.
Above Rs. 10,00,000: Rs. 990 plus 0.018% of the gross amount of forex exchanged, subject to a maximum of Rs. 10,800.

1. Is it advisable to carry foreign exchange in cash while abroad?

Yes, it is advisable to carry a small value of your Forex in the form of currency notes so you have cash for immediate expenses like hiring cab, buying meal etc.

2. How much foreign currency can be carried in cash for traveling abroad?

Travelers going to all countries other than (a) (b) and (c) below are allowed to purchase foreign currency notes / coins only up to USD 3000 per visit. Balance amount can be carried in the form of store value cards.
Exceptions to this are:

(a) Travelers proceeding to Iraq and Libya who can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD 5000 or its equivalent per visit;

(b) Travelers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange (up-to USD 250,000) in the form of foreign currency notes or coins.

(c) For travelers proceeding for Haj/ Umar pilgrimage, full amount of entitlement (USD 250,000) in cash or up to the cash limit as specified by the Haj Committee of India, may be released by the ADs and FFMCs.

3. How much Indian currency can a person carry while going abroad?

A resident Indian can take Indian rupees outside India (other than to Nepal, Bhutan, Pakistan and Bangladesh) as currency notes up to an amount not exceeding Rs. 25,000 per person.
Any resident of India who has travelled to Pakistan and/or Bangladesh on a temporary visit, may bring into India at the time of his return, currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. 10,000 per person.

4. How much foreign exchange can be brought in while visiting India?

A person coming into India from abroad can bring with him foreign exchange without any limit. However, if the aggregate value of the foreign exchange in the form of currency notes, bank notes or travelers cheques brought in exceeds USD 10,000 or its equivalent and/or the value of foreign currency alone exceeds USD 5,000 or its equivalent, it should be declared to the Customs Authorities at the Airport in the Currency Declaration Form (CDF), on arrival in India.

5. Can one pay by cash (rupee) equivalent of foreign exchange being purchased to travel abroad?

Foreign exchange for travel abroad can be purchased from an authorized person against rupee payment in cash below Rs. 50,000/-. However, if the sale of foreign exchange is for the amount equivalent to Rs 50,000/- and above, the entire payment must be received only by a crossed cheque/RTGS/NEFT drawn on the applicant’s bank account.

6. Is there any time-frame for a traveler who has returned to India to surrender foreign exchange?

On return from a foreign trip, travelers are required to surrender unspent foreign exchange held in the form of currency notes and travelers cheques within 180 days of return. However, they are free to retain foreign exchange up to USD 2,000, in the form of foreign currency notes or TCs for future use.

7. What are the documents required for buying foreign currency?

Form A2, application cum declaration, Copies of a valid Passport, Current address proof, Confirmed return air ticket, Visa if available otherwise declaration on the same and PAN card are required for buying foreign currency.

8. How many days in advance can a person buy foreign exchange for travel abroad?

Permissible foreign exchange can be drawn 60 days in advance. In case it is not possible to use the foreign exchange within the period of 60 days, it should be immediately surrendered.

1. How to initiate Video-KYC through the GlobalPay App?

i. Login in on your GlobalPay App.

ii. Click on the “Profile” tab.

iii. Fill your personal details mentioned and update your profile.

iv. Under the update button click on “Initiate Video KYC” option to begin your one-time Video-KYC.

2. How do I complete my one-time video-KYC process through the GlobalPay App?

i. Click on “Initiate Video-KYC” in the profile tab on the GlobalPay App.

ii. Click on the link to complete your Offline Aadhaar verification.

iii. Enter your Aadhaar card number and enter the security code provided.

iv. Generate a one-time password (OTP).

v. Create a “Share Code” for your offline e-KYC and remember it as you will need it to unlock your zip/xml file.

vi. Enter your OTP and download your Aadhaar Zip/Xml file.

vii. Go on to the GlobalPay App and check the text box and click on “Proceed Now” to schedule a video-KYC call.

viii. Click on “Start” to initiate your video-KYC process.

ix. Click “Offline Aadhaar” under proof of identity and click on the “Start” button to proceed

x. Select the file i.e. Zip/XML and upload the same. Enter the “Share Code” and click on “Extract”

xi. Your ‘Proof of Identity’ as per your “Offline Aadhaar details” will now be displayed. Please check your details and click on “Next Step” to proceed.

xii. In the next step, enter your PAN number to fetch the details. Please check your details and click on “Next Step” to proceed.

xiii. Read and accept the declaration & proceed for your one-time video-KYC call.

xiv. Please ensure, your Location, Audio, Video, Internet/Wi-Fi connection is on at all times during the video-call. Please note, you will need to allow and enable these options on your device.

xv. An approximate wait time and your number in que will be visible for your information.

xvi. Once you are connected our representative will ask you to display your PAN Card and ask you few questions to confirm your identity. Also, please note, the service executive will capture your image and pan card live on the call.

xvii. Once our internal team verifies your KYC documents your Video-KYC status will change to “Completed” under the Profile Tab. Post which you can start transacting on the GlobalPay App.

xviii. Our Service executive will be picking up the physical transactional documents from your home address/office address.

3. What to do if my Video-KYC is rejected?

If your Video-KYC is rejected by our internal team you will receive an e-mail with the reason of rejection. You will have to follow the same steps to reinitiate your video-KYC to complete your order. Make sure you sit in a well-lit area and display the documents clearly. Please write to or speak to our team for any further assistance or clarity with respect to this.

4. Can I transact without completing my Video – KYC in the GlobalPay App?

No, you cannot transact without completing your video-KYC in the GlobalPay App.

5. Is Video – KYC compulsory for corporate customers while doing remittance transactions in the GlobalPay App?

Yes, Video – KYC is compulsory for corporate customers when they’re opting for a remittance transaction through the App. But, they can link and manage their GlobalPay Forex Card in the GlobalPay App without Video – KYC.

1. What is TCS?

As per sub-section (1G) of Section 206C of the Income Tax Act, 1961 TCS (Tax collected at source) is the tax which is to be collected by Authorised dealer on foreign remittance transactions under Liberalized Remittance Scheme [LRS] as well as amount received from buyer by a seller for sale of an ‘Overseas Tour Program Package’ at specified rates.

TCS is not additional tax burden. It is like advance tax payment and can be claimed while filing income tax return.

2. Is TCS applicable to all remittances made abroad?

No. Only such remittances which are covered under LRS are liable to TCS like forex products i.e. foreign currency notes, prepaid forex cards, remitting money overseas and demand drafts

3. What is Liberalised Remittance Scheme (LRS)?

Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM (CAT) Rules 2000 within the limit of USD 2,50,000 only. The Scheme is not available to corporates, partnership firms, HUF, Trusts etc.

4. Does LRS cover business visits of employees?

No. When an employee is being deputed by an entity for any of the above, and the expenses are borne by the latter, such expenses shall be treated as residual current account transactions outside LRS and may be permitted by the AD without any limit, subject to verifying the bona fide of the transaction.

5. What are the applicable rates and threshold for TCS?

The TCS rates with the changes brought about in Finance Act 2025 are tabulated as under,

6. Whether payment through overseas credit card would be counted in LRS?

The classification of use of international credit card while being overseas, as LRS is postponed. Therefore, no TCS shall be applicable on expenditure through international credit card while being overseas till further order.

The declaration and tax do not apply to money spent abroad via credit cards.

7. Whether the threshold of Rs 10 lakh for TCS become applicable on LRS, applies separately for various purposes like education, health treatment and others?

The threshold of Rs 10 lakh for LRS is combined threshold for applicability of the TCS on LRS irrespective of the purpose of the remittance.

TCS is not required if the amount or aggregate of the amounts being remitted by a buyer is less than Rs 10 lakh in a financial year

8. Whether the threshold of Rs 10 lakh, for TCS to become applicable on LRS, applies separately for each remittance through different authorised dealers? If not, how will authorised dealer know about the earlier remittances by that remitter through some other authorised dealer?

TCS is not required if the amount or aggregate of amounts being remitted by a buyer is less than Rs 10 lakh in a financial year.

Since the facility to provide real time update of remittance under LRS by remitter is still under development by the RBl, it is clarified that the details of earlier remittances under LRS by the remitter during the financial year may be taken by the authorised dealer through an undertaking at the time of remittance.

lf the authorised dealer correctly collects the tax at source based on information given in this undertaking, he/she will not be treated as “assessee in default”.

However, for any false information in the undertaking, appropriate action may be taken against the remitter under the Act.

9. There is threshold of Rs 10 lakh for remittance under LRS for TCS to become applicable while there is another threshold of Rs 10 lakh for purchase of overseas tour programme package where reduced rate of 5 percent TCS applies. Whether these two thresholds apply independently?

Yes, these two thresholds apply independently.

For LRS, the threshold of Rs 10 lakh applies to make TCS applicable.

For purchase of overseas tour programme package, the threshold of Rs 10 lakh applies to determine the applicable TCS rate as 5 percent or 20 percent.

10. A resident individual spends Rs 3 lakh for purchase of overseas tour programme package from a foreign tour operator and remits money which is classified under LRS. There is no other remittance under LRS or purchase of overseas tour programme during the financial year. Whether TCS is applicable?

In case of purchase of overseas tour programme package which is classified under LRS, TCS provision for purchase of overseas tour programme package shall apply and not TCS provisions for remittance under LRS.

Since for purchase of overseas tour programme package, the threshold of Rs 10 lakh for applicability of TCS does not apply, TCS is applicable, and tax is required to be collected by the seller.

In this case, the tax shall be required to be collected at 5 percent since the total amount spent on purchase of overseas tour programme package during the financial year is less than Rs 10 lakh.

The TCS should be made by the seller.

11. There are different rates for remittance under LRS for medical treatment/education purposes and for other purposes. What is the scope of remittance under LRS for medical treatment and education purposes?

As per the clarification by the RBI, remittance for the purposes of medical treatment shall include, (i) remittance for purchase of tickets of the person to be treated medically overseas (and his attendant) for commuting between India and the overseas destination; (ii) his medical expense; and (iii) other day to day expenses required for such purpose.

In case of education, remittance for the purpose of education shall include, (i) remittance for purchase of tickets of the person undertaking study overseas for commuting between India and the overseas destination; (ii) the tuition and other fees to be paid to the educational institute; and (iii) other day to day expenses required for undertaking such study.

12. Whether purchase of international travel ticket or hotel accommodation on standalone basis is purchase of overseas tour programme package?

The term ‘overseas tour programme package’ is defined as to mean any tour package which offers visit to a country or countries or territory or territories outside India and includes expenses for travel or hotel stay or boarding or lodging or any other expenditure of similar nature or in relation thereto.

It is clarified that purchase of only international travel ticket or purchase of only hotel accommodation, by in itself is not covered within the definition of ‘overseas tour programme package’.

To qualify as ‘overseas tour program package’, the package should include at least two of the following : (i) international travel ticket, (ii) hotel accommodation (with or without food)/boarding/lodging, (iii) any other expenditure of similar nature or in relation thereto.

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