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Any resident Indian or non-resident Indian (NRI) is eligible to buy foreign currency for permitted purposes under FEMA, subject to valid documentation and limits prescribed by RBI.

Foreign exchange can be purchased for permitted purposes such as: • Overseas travel (leisure or business) • Education abroad • Medical treatment overseas • Employment abroad • Emigration • International conferences / seminars • Maintenance of close relatives abroad (Subject to RBI rules and applicable limits)

Typically, the following documents are required: • Valid PAN Card • Passport • Visa (if applicable) • Air ticket / travel proof • Purpose declaration (Form A2 or equivalent) Additional documents may be required depending on the purpose of travel.

Yes. PAN is mandatory for all foreign exchange transactions as per RBI guidelines, except in specific exempted cases notified by RBI.

Under the Liberalised Remittance Scheme (LRS), a resident individual can avail foreign exchange up to USD 250,000 per financial year, including travel, education, medical, and other permitted purposes.

Yes, but with restrictions: • Cash foreign currency is allowed up to prescribed limits. • For higher amounts, forex cards or bank transfers are preferred as per RBI norms.

Yes. Unspent foreign currency can be reconverted into INR, subject to: • Production of original purchase receipt • Compliance with FEMA and RBI rules

Yes. TCS (Tax Collected at Source) may be applicable under the Income Tax Act on foreign exchange purchases under LRS, as notified by the Government from time to time.