BookMy Forex - Yes Bank Multi Currency Forex Card

Please read the terms and condition and FAQ’s related to your BookMyForex - Yes Bank Multi Currency Card below. Please refer to the schedule of charges tab to see the charges associated with your card. Please note that the charges may vary depending on your card type and may be subject to changes from time to time.

1. Why is the BookMyForex Multi Currency Forex Card the best payment mode you can use abroad?

The BookMyForex Forex Card works like any other Visa powered international credit/ debit card and is accepted everywhere where Visa cards are accepted i.e. at stores, ATMs and online e-commerce websites worldwide. Enjoy the best conversion rates with our Forex Cards and keep your money safe with chip and pin protection. With BookMyForex’s Forex Card, avoid the large foreign exchange transaction fees incurred when using your international credit card or debit card abroad.

2. Which all currencies can be loaded on the BookMyForex Multi Currency Forex Card?

Your BookMyForex Forex Card can be loaded with world’s top 14 major currencies; 1. United States Dollar (USD) 2.Great Britain Pound (GBP) 3. Euro (EUR) 4. Canadian Dollar (CAD) 5. Australian Dollar (AUD) 6. Singapore Dollar (SGD) 7. Arab Emirates Dirham (AED) 8. Saudi Riyal (SAR) 9. Thai Baht (THB) 10. Swiss Franc (CHF) 11. Hong Kong Dollars (HKD) 12 New Zealand Dollar (NZD) 13. Japanese Yen (JPY) 14. South African Rand (ZAR)

3. Can I load more than one currency in my Forex Card?

Yes, your Forex Card can be loaded with up to 14 currencies at a time. The card will work in all countries and will dispense local currencies only on usage at ATMs, but in case the card is used in say Europe, and Card is loaded with only USD currency then conversion charges from USD to Euro will be applicable.

4. How do I get a BookMyForex Forex Card?

Browse to www.bookmyforex.com or www.tripmoney.com or www.makemytrip.com and place an order online to buy a Forex Card. You will need to enter the foreign currency and the amount that you need upfront and complete all steps in the order including the final payment. Your card will then be delivered to you at the address that you specified.

5. I am not travelling abroad, can I still get a Forex Card?

No. Forex cards can only be issued in case you’re traveling abroad. Necessary documents confirming international travel will be verified prior to issuing the card to you.

6. What are the different charges and fees applicable when using/purchasing Multi Currency Travel Card?

All fees and charges applicable on your Forex Card can be viewed through the following link: www.bookmyforex.com/forex-card/ybl-schedule-of-charges. Any changes in the charges and fee will be governed as per BookMyForex’s Forex Card terms and conditions.

7. How much foreign currency can I load on my Multi Currency Forex Card?

The usage of your Multi Currency Forex Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a Card should be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force.

8. When can I start using the Card?

You can start using the Card once you get a welcome e-mail/ SMS on the registered email ID. You may also log on to the Forex Card Web Login to check the balance on the Card, please follow the link https://cards.bookmyforex.com

9. Can I use my Forex Card for online/e-commerce purchases?

Yes, your Forex Card is already enabled to perform online/e-commerce transactions. Once your Card is loaded and active with the requested load amount you can start using the same for online purchases. When making your online payment, select the “Credit card” option as your mode of payment. In case you are prompted for a second factor authentication, enter your ATM PIN.

10. How can I confirm that my Card has been loaded/reloaded?

You will receive an SMS and Email confirmation as soon as your Card is loaded/ reloaded. It is advisable to check the balance on the Card through our web portal available at https://cards.bookmyforex.com. If you’re logging in for the first time, use your passport number in the “Customer ID” field and click on “Set/ Reset Password” to set your password.

11. How do I check balance on my Card?

You can login to the card management portal (https://cards.bookmyforex.com) to view your currency wise balance. You can also check your Card balance on the Visa enabled ATM overseas, however, this may attract additional balance enquiry charges. If you’re logging in for the first time, use your passport number in the “Customer ID” field and click on “Set/ Reset Password” to set your password.

12. Is there any restrictions on the usage of the Card in any of the country or currency?

Yes, this Card cannot be used in India, Nepal & Bhutan for making payment in Foreign Currencies. In case your card has an INR wallet, you may use the balance in your INR wallet within India as well.

13. What needs to be done incase Hotels/Car Rentals take a Pre-Authorization?

Pre-authorizations have been disabled on your card since they often lead to your funds remaining blocked for several days post the reversal of the authorization. This can cause unnecessary inconvenience to you as you try to access the balance on your card. For this reason, we have disallowed pre-authorizations. These transactions will be auto declined. We recommend you use your international credit card for such transactions.

14. From where do I find my web login password?

If you’re logging in to the card management portal (https://cards.bookmyforex.com) for the first time, use your passport number in the “Customer ID” field and click “Login”. Then click on “Set/ Reset Password” to set your password. You will be prompted to do an OTP verification on the registered phone number associated with your card. You will be able to set your password after successful OTP verification. Please use the same username/ password to login subsequently.

15. How do I change my password?

Browse to (https://cards.bookmyforex.com). Enter your passport number in the “Customer ID” field and click “Login”. Click on the “Set/ Reset Password” link. You will be prompted to do an OTP verification on the registered phone number associated with your card. You will be able to set your password after successful OTP verification.

16. Can my Multi Currency Forex Card be used directly at merchant establishments?

Yes, Multi Currency Forex Card can be used directly for payments at merchant establishments that accept Visa enabled cards. Your Multi Currency Forex Card is Chip enabled Card, which provides maximum security when using overseas. Following are the steps for using your Forex Card on a POS terminal.

17. Can my Multi Currency Forex Card be used directly at merchant establishments?

Yes, Multi Currency Forex Card can be used directly for payments at merchant establishments that accept Visa enabled cards. Your Multi Currency Forex Card is Chip enabled Card, which provides maximum security when using overseas. Following are the steps for using your Forex Card on a POS terminal.

  • The merchant inserts/dips the Chip Card in the POS terminal
  • The Chip Card must remain in the terminal till the transaction is completed
  • If the merchant accidentally swipes the Card at the place of inserting/dipping the Card, the terminal will automatically identify it as a Chip Card. The terminal will force the cashier to insert Chip Card instead of doing a swipe if the POS terminal does not have Chip facility, the Card can be used for normal magnetic stripe swipe on the POS terminal as well.

18. Is there a transaction fee for using my Forex Card at merchant establishments?

No, there is no transaction fee incurred for using your card for payments at merchant establishments. However if the transaction done in the local currency of the country is not available on the Forex Card then the card will intelligently process the transaction in the currency available on the Card. However, for such transactions a cross currency conversion fee will be applied. Please check the Schedule of charges (https://www.bookmyforex.com/ybl-schedule-of-charges) to see the exact charge amount.

19. From where do I find my ATM PIN?

The ATM PIN is a part of your card welcome kit. You can also reset your ATM PIN after logging on to the Forex Card management portal (https://cards.bookmyforex.com).

20. Is there any charge on regeneration of ATM PIN?

No, ATM PIN regeneration is free of cost for you.

21. Do I need to enter my ATM PIN while using the Forex Card at a merchant outlet?

You may have to enter your ATM PIN if POS machine prompt for the same while using on any merchant establishment.

22. What do I do if I have forgotten/lost my ATM PIN or Web login password?

The PIN gets blocked for use at ATMs/POS, post 3 times attempt of wrong ATM PIN/Web Password in a day. This is for your own security and to prevent any fraudulent usage on the Card. If you have forgotten your PIN, you may reset your ATM PIN from the Forex Card management portal (https://cards.bookmyforex.com).

23. What are the different authorization scenarios while using your Forex Card overseas for making payments?

When the Card holder performs a payment transaction, the debit would take place on the priority as per the different scenarios provided below: Scenario 1 - If the customer has local currency (depending on country of transaction) wallet with sufficient balance then the transaction will be processed using the balances on the local currency wallet. Scenario 2 – If the local currency is part of the offered multiple currencies on the Card but customer does not have sufficient balance in local currency wallet, however if the customer has sufficient balance (equivalent to local currency) on default currency wallet (USD) then the transaction will be processed using the balances on the default currency wallet. Value from the default currency will be converted to local currency using cross currency conversion rate decided by BookMyForex. Scenario 3 – If the local currency is part of the offered multiple currencies on the Card but customer does not have sufficient balance in local currency wallet as well as default currency wallet (USD) however if the customer has sufficient balance (equivalent to local currency) on any other currency wallet then the transaction will be processed using the balances from the respective currency wallet. The Card will look for balances across all the currency wallets in following order of priority as decided by the Bank 1. USD 2. GBP 3. EUR 4. CAD 5. AUD 6. SGD 7. AED 8. SAR 9. THB, 10. JPY. Value from the respective currency will be converted to local currency using cross currency conversion rate decided by BookMyForex. Scenario 4 - If the customer transacts in currency which is not offered on the Card, the transaction will be processed by debiting default currency (USD) wallet. Cross currency conversion would take place as per existing Visa / MasterCard rates as applicable. In case the default currency wallet does not have sufficient balance then funds would be pulled from wallet with sufficient funds and converted to the default currency using Bank’s currency conversion rate. Partial transactions in different currency wallets are not allowed. If the customer does not have sufficient balance to process the transactions individually in any of the currency wallets, the transaction is declined even if the collective balances on the Card across all currencies is sufficient to process the transaction.

24. Is there a daily limit of purchase at a merchant establishment?

You can refer the “Schedule of charges” section (https://www.bookmyforex.com/ybl-schedule-of-charges) for daily transaction limits applicable for both merchant outlets and ATMs overseas in details. Any changes in the limits w.r.t its usage will be governed as per Terms and Conditions of YES BANK Multi Currency Travel Card.

25. What if the balance in the currency of transaction is insufficient?

The Card has inbuilt intelligence to process the transaction if any of the currency wallets has sufficient fund to authorize the transaction. If the currency wallet corresponding to the transaction currency does not have sufficient balance, the payment is processed by debiting the currency wallet with sufficient balance. By default the Card follows auth order of USD,EUR,AED,AUD,GBP,CAD,SAR,SGD,THB,CHF,JPY,ZAR,NZD and HKD. Please note that if none of currency wallets have sufficient balance then the transaction will be declined even if collectively across the wallets the Card has sufficient balance. Please note that cross currency conversion charges will be applicable in cases where the transaction is processed by utilizing funds from different currency wallet.

26. Which ATMs accept the Multi Currency Forex Card?

All ATMs overseas displaying the Visa symbol will accept your Multi Currency Forex Card.

27. Is there a fee levied for the use of ATMs?

US Banks are given the right to add a surcharge to other bank customers accessing their ATMs. There are also certain ATMs in other countries that may levy a charge for transactions made by non-bank customers. These fees are normally displayed during the transaction. Check for this, so that you can either proceed with or end the transaction.

28. Are there any transactions for which this card cannot be used?

Yes, your Forex Card can’t be used for temporary charge blocks/ deposits/ holds or pre-authorization transactions - e.g. paying deposits at hotels, hiring of cars etc. All such payments will be auto-declined. Reversal of these transactions can take several days or weeks and effectively block the usable balance on your card. These transactions are disallowed in order to for you to be able to seamlessly use the entire balance on your card without any issues.

Your card will auto decline dynamic currency (DCC) transactions. DCC is enabled by some POS and ATMs abroad. In DCC transactions you are presented with a choice to pay in your "Home currency" or in the local currency. Since your Forex Card is already loaded in a foreign currency, DCC can lead to double conversion charge if you select the "Home currency" option. For this reason, DCC transactions has been disabled on your Forex Card

29. How many days in advance can I purchase foreign exchange?

You can purchase foreign exchange up to 60 days in advance from the date of departure

30. How much foreign exchange can I retain after the foreign trip?

After returning from the overseas trip, you are required to surrender unspent foreign exchange held by you within 180 days of return as per FEMA Regulations 1999, RBI. You can retain foreign exchange up to USD 2,000 (or equivalent) for future use after returning back to India.

31. Does the SMS/Email alert facility starts automatically when I get the Multi Currency Forex Card, or do I have to register for it?

Yes, SMS and Email alert facility starts immediately after your card is loaded and activated

32. Are there additional charges for the SMS alert facility?

No. SMS facility on Indian number is free of cost however BookMyForex shall not be liable for any extra charges being levied by the service providers.

33. What is Dynamic Currency Conversion?

In certain countries, the acquiring banks may choose to activate the feature of "Dynamic Currency Conversion" on their ATMs and POS Machine network. As per this facility, the ATM/POS machine identifies the Multi Currency Forex Card as a Card issued from a foreign country and prompts the customer to transact in their "home currency”. We urge you to note that as the Forex Card is purchased and loaded with the purpose of using the Card in the respective foreign currency, the customer must avoid selecting any option that prompts for a change in usage currency to avoid any adverse exchange rate. The "dynamic currency conversion" feature may appear with differing terminology depending on the overseas bank. BookMyForex is not responsible for any "dynamic currency conversion" related charges and will not be able to refund any such charges in case they are levied on account of wrong usage of Card.

34. Can I use the DCC/ MCC option at the time of transaction?

Whenever the Forex Cardholder opts for DCC/MCC option on DCC/MCC enabled POS/ATM terminals, his/her transaction passes through cross currency transactions twice which attracts double currency conversion fees. Hence it is not advisable to opt for DCC/MCC while using the card for making payments or withdrawing cash from overseas ATMs.

35. Are there any regulatory restrictions on the usage of my Card?

Usage of the Forex Card needs to be in accordance with the Exchange Control Regulation of Reserve Bank of India and the applicable laws in force from time to time, in particular and without information, the Foreign Exchange Management Act, 1999.

36. How can I reload my Forex Card?

In case you have exhausted the funds on the card, you can reload your Card with additional funds. The easiest way to do this is to place a card reload order online on www.bookmyforex.com. Please select the “Reload/ unload Forex Card” option on the website and complete your order online. Please ensure to upload all required documents during the order and to make full payment against the order in order to expedite order processing.

37. Whom should I contact in case I have a dispute on a transaction?

You can call on our customer care hotline: +91-80-45651100 or Email us at bookmyforexcard@yesbank.in to provide us details of the disputed transaction.

38. What do I do if my transactions are getting declined?

You can call us on our customer care hotline: +91-80-45651100 or Email us at bookmyforexcard@yesbank.in

39. What should I do if my Forex Card is lost or stolen?

You can login to the Forex Card management portal (https://cards.bookmyforex.com) and lock the card to prevent it from further usage. Alternatively you can call us on our customer care hotline: +91-80-45651100 mentioned on the back of the Card and we will do the same for you

40. How can I get a refund of the unused balance?

You can get a refund only after your return to India. For refund of the residual or unutilized balances please place an order online on www.bookmyforex.com. Select the “Reload/ Unload Forex Card” option and complete an order online. You will need to submit duly filled and signed refund encashment form and submit a copy of your passport along with the form. Please do upload both documents

41. What should I do if my Forex Card has expired/hotlisted, but there is unutilized balance on it?

If your Card has expired or is hotlisted (due to certain reason) before all funds have been utilized, you can place a Forex Card unload order from www.bookmyforex.com to get a refund of the un-utilized balance, or you can contact us at forexcards@bookmyforex.com to apply for a replacement Card to continue to access the remaining funds for payment through the Card in future.

42. How much is the currency conversion GST applicable at the time of Load, Reload and Refund?

You can refer the “Schedule of charges” (https://www.bookmyforex.com/ybl-schedule-of-charges) for currency conversion GST applicable in details. Any changes in the charges and fee of Multi Currency Forex Card will be governed as per BookMyForex’s Terms and Condition.

43. Is my forex card insured?

Yes, your BookMyForex Yes Bank forex card is insured against Lost card liability, Counterfeit / Skimming / Phishing / Online transactions / ATM Losse

44. How much coverage I get against each liability?

Your BookMyForex Yes Bank Forex card is insured upto Rs. 1,50,000. Details are as below:

Section Name Sum Insured/Limit of Liablity Deductible/Excess (If Any)
Forex Card Cover Liablity - Number of Days Pre-Reporting: 7 Days - Number of Days Post-Reporting: 7 Days Rs. 1,50,000 Nil

45. What is the process of claim?

You need to follow below process to claim your loss:

Contact the customer support at +91 80-45651100 and block the card Post blocking your card send below details to us at care@bookmyforex.com

Basic Details of Customer & The loss
Particulars Remarks
Forex Card Number  
Type of card: e.g. Kisan, Rupay Debit card / Savings bank debit card etc  
Cardholder Name  
Cardholder Address  
Date of Loss  
Nature of loss i.e. Skimming / Lost Card / Counterfeit / Online / Phishing  
Date of Card Blocking  
Claim Amount  
E-mail ID & Contact No. of the bank personnel for communication  

Alongwith above details, we need following documents with you according to the case:

Lost Card Liability:
  • Duly filled and signed Claim Form by Bank
  • Police Acknowledgment of any kind / First Information Report (Online FIR not valid)
  • Dispute letter
  • Bank Statement from 3 months prior to the Date of Disputed Transaction, up to the last transaction date
  • All disputed transaction timing
  • Passport copy all pages (including Immigration stamped pages)
Counterfeit / Skimming / Phishing / Online transactions / ATM Losses:
  • Duly filled and signed Claim Form by Bank
  • Police Acknowledgment of any kind / First Information Report (Online FIR not valid)
  • Dispute letter
  • Card Statement from 3 months prior to the Date of Disputed Transaction, up to the last transaction date
  • Passport copy all pages (including Immigration stamped pages)

Note: For All type of Claims, if Any Additional Documents are required for further processing of claim then HDFC ERGO’s Claims Department or BookMyForex may/shall accordingly request by call or email for the additional documents from the Claimant.

46. What are the conditions to request for a claim?

  • Basic details of the customer & the type of loss must be received to care@bookmyforex.com within 7 working days from the date of loss
  • All claim documents must be received to BookMyForex at below address within 12 days from the date of blocking the card: Unit 662-663-664, 6th Floor, Tower C, JMD Megapolis, Sector-48, Gurgaon 12201

47. Is there any special condition or extensions to the Insurance covered?

  • The cover is applicable for primary cards only. Add-on Cards are not covered.
  • Card Liability:
    1. Pre and post reporting clause is applicable for Section I (Card Liability Cover) and the extensions applicable to Section I.
    2. Losses arising as the result of break-down, malfunctioning, hacking, cyber attack or other similar systemic issues on or of the systems and processes of the bank shall not be covered under the policy.
    3. Territory of Insurance: Worldwide, however, all the coverage’s under the policy are applicable on International Travel only. Card Liability cover would be applicable only when there is any loss outside the territorial limits of India.
  • Terrorism is excluded under the policy.
  • Further, the policy shall cover losses due to skimming / phishing / counterfeit / internet banking frauds extensions subject to a maximum period of 30 days from date of first fraud.
  • Fraudulent transactions done by person known to the cardholder are specifically excluded. Person known to the cardholder means an Insured Person’s Spouse; children; children-in- law; siblings; siblings-in-law; parents; parents-in-law; grandparents; grandchildren; legal guardian, ward; step or adopted children; step-parents; aunts, uncles; nieces, and nephews, maids, servants, person who have access to card and pin
EXTENSIONS FOR COVER UNDER SECTION I: CARD LIABILITY COVER
a) Coverage of Loss on the card due to Internet based transactions

It is hereby agreed and declared that not withstanding anything stated to the contrary, in the printed exclusions of this Policy, this Insurance is extended to cover any loss or damage arising out of Internet based transactions, using the authorized CVV (Card Verification Value Code) issued to the Cardholder by the Bank named in the Schedule

Special exclusions Applicable to this extension The Company will not make any payment for any claim directly or indirectly arising from, or occasioned by, or due to:

  • Loss incurred by the cardholder because of misuse of credit card at any site not having authorized Verisign Security status or any other equivalent security status at any point in time for the entire period of the insurance. This exclusion does not apply to international transactions
  • Any transactions not confirmed by host website.
  • Any errors made by the host Website.
b) Coverage of Loss on the cards due to Unauthorized usage / Skimming / Counterfeit /Duplication/Phishing / Compromised Cards

It is hereby agreed and declared that not withstanding anything stated to the contrary, in the printed exclusions of this Policy, this Insurance is extended to cover the following:

a) any Fraudulent Use of a Bank Card(s) where property, labour or services are sold and delivered by a merchant to an individual purporting to be the cardholder using telephone, fax machines, postal services or a computer based system or network

b) Losses arising out of duplicate or counterfeit cards as issued by the Bank named in the Schedule created without the Card holder’s Knowledge,

c) any fraudulent loss or damage arising due to Information obtained by Unauthorized Access to sensitive information such as usernames, passwords and any card details by masquerading as a trustworthy entity in an electronic communication which is not owned, operated or contracted by the Insured or the Insured’s Bank Card processor.

48. Can you transfer money from forex card to bank account?

No, you can not.

49. What are the USPs of a Forex Card purchased from BookMyForex?

  • You carry forex at fixed rates – no need to worry about exchange rate fluctuation or from heavy charges of 3-6% levied by the banks.
    Zero Issuance or reload charge.
  • Safe and convenient to use.
  • Can be reloaded at any time and from anywhere.
  • Cash assistance in case of the loss/theft of the card.
  • Add on card facility available which makes it absolutely safe as the lost card can be blocked and balance transferred to the new card.
  • You get foreign currency cash at a discount when bought with Forex Cards.

50. Can a foreigner or an NRI avail forex card via BookMyforex?

No, a foreigner or an NRI cannot avail forex card

51. Why are trip details required for getting the card?

To certify the travel within 60 days (about 2 months) of purchasing forex

52. Where do I manage the card? Is it through MMT (Make My Trip) app or some other app I need to download?

The card can be managed through BookMyForex app once the card is activated. App available on play store as well as app store

53. Steps to order BMF card through MMT app?

You can get the BMF card through MMT by following the steps below:

  • Login to your MakeMyTrip mobile app
  • Click on the Forex icon on the home page
  • Click on “Forex card” on the forex landing page
  • Click on “Begin” and fill in all the required details
  • Complete the payment and upload all the documents
  • Post the submission of all documents, card delivery will be initiated
  • You card will activated within 24 hours of card delivery

54. What documents are required to order card?

Please find details on required documents here: Frequently Asked Questions (bookmyforex.com)

55. Are there any delivery charges for the card?

There are no delivery charges. Please refer to “Schedule of charges” for all fees and charges applicable.

56. How will I get confirmation of the card order?

Order confirmation on the card order is being notified to the customer on their registered email ID, contact number as well as available in customer's secure login account.

57. How much time will it take to reload my card?

Card is activated and funded within 24 hours of delivery, customers are notified on email and SMS once the card is funded. The turnaround times mentioned here are subjected to our applied conditions

58. Minimum load amount while purchasing the card?

USD 250 or equivalent foreign currency

59. What is the mark-up/exchange rate?

Exchange rate/mark-up while buying forex varies as per prevailing IBR.

60. When will the card get delivered?

The card gets delivered the same day if the order is received with payment before 1:00 PM on a working day (Except Sundays or holidays). Once delivery is scheduled, tracking details are notified to the customer on the registered contact details

61. How much time will it take to activate the card?

Cards are funded within 12 hours of full payment receipt and receiving of required travel documents on working days. The funding ‘turnaround time’ for reload requests placed prior to a holiday are adjusted accordingly. The turnaround times mentioned here are subjected to our applied conditions

62. Where to check the transaction history?

Transaction history related to the card transactions can be accessed through BookMyForex app (preferred) or the web login through link.

63. What is TCS?

TCS is "Tax Collected at Source, which means any forex issuer has to collect 5% of TCS from the customers who buy/remit forex over and above limit of INR 7 lacs in a financial year.

64. From when its applied?

TCS provision is applicable from October 1 2021.

65. How will the TCS be calculated?

TCS will be calculated basis PAN of the remitter or forex buyer and will be calculated as 5% of the total forex purchased over and above minimum limit of INR 7 lacs in a financial year except below:

  • TCS will be calculated as 0.5% if forex purchased or remitted against loan obtained from a financial institution in India
  • TCS will be calculated as 10% if PAN of remitter/buyer is not available

66. What is the meaning of specified person?

Means a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be deducted, for which the time limit of filing return of income under sub-section (1) of section 139 has expired; and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in each of these two previous years: Provided that the specified person shall not include a non-resident, who does not have a permanent establishment in India.

67. How much TCS will be applied in case a remitter/buyer found as Specified Person?

For any “Specified Person” the TCS will be collected in the below mentioned provisioned:

  • Twice rate as of the applicable TCS – 10% if 5% was applicable)
  • Minimum of 5%

68. If someone want to understand the applicability in simple scenarios:

Let's Understand Applicability of the section through this table:

Particular Tax Deduction/ Collection in Previous Year ITR filing status Is  section 206AB/ 206CCA  Applicable  ?
2019-20 Rs. 50000 Or More 2020-21 Rs. 50000 Or More
Case A No Yes Not filed for both year No
Case B Yes No Not filed for both year No
Case C Yes Yes Not filed for both year No
Case D Yes Yes Not filed for both year Yes
Case E Yes Yes Not filed for both year No

BookMyForex is a fully authorized money exchanger regulated by the Reserve Bank of India (RBI). | License number : FE.DEL.FFMC/ U070/2013 | Insurance is the subject matter of solicitation | IRDAI Registration No. CA0429 | IRDAI | Cheques are subject to realization.

Same day delivery is guaranteed for orders placed before 1 pm (IST) Monday – Friday.

* Zero margin rates/ interbank rates are available only on forex cards on specific currencies, in select cities for orders amounting to Rs. 1.5 lakh or more (Use promo code: ZEROMARKUP)

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