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All about 15CA-15CB FORMS FOR REMITTANCES
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All about 15CA-15CB FORMS For Remittances
Requirements of Form 15CA -15CB
The person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum chargeable under the provisions of the Act, shall furnish the following, namely:—
- The information in Part A of Form No.15CA, if the amount of payment or the aggregate of such payments, as the case may be, made during the financial year does not exceed 5,00,000 rupees;
- The information in Part B of Form No. 15CA, if the amount of payment or the aggregate of such payments, as the case may be, made during the financial year does not exceed 5,00,000 rupees and certificate/order u/s 197/ 195(2) / 195(3) of income tax act has been obtained.
- The information in Part C of Form No. 15CA, if the amount of payment or the aggregate of such payments, as the case may be, made during the financial year exceeds5,00,000 rupees and certificate in form no. 15CB from an accountant as defined in the explanation below sub-section (2) of section 288 of income tax act has been obtained.
- The person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum which is not chargeable under the provisions of the Act, shall furnish the information in Part D of Form No.15CA.
In the Following Cases No information is required to be furnished for any sum which is not chargeable under the provisions of the Act, if,
- The remittance is made by an individual and it does not require prior approval of Reserve Bank of India as per the provisions of section 5 of the Foreign Exchange Management Act, 1999 (42 of 1999) read with Schedule III to the Foreign Exchange (Current Account Transaction) Rules, 2000; or
- The remittance is of the nature specified in column (3) of the specified list below:
SPECIFIED LIST
Sl. No. | Purpose code as per RBI | Nature of payment |
(1) | (2) | (3) |
1 | S0001 | Indian investment abroad – in equity capital (shares) |
2 | S0002 | Indian investment abroad – in debt securities |
3 | S0003 | Indian investment abroad – in branches and wholly owned subsidiaries |
4 | S0004 | Indian investment abroad – in subsidiaries and associates |
5 | S0005 | Indian investment abroad – in real estate |
6 | S0011 | Loans extended to Non-Residents |
7 | S0101 | Advance payment against imports |
8 | S0102 | Payment towards imports – settlement of invoice |
9 | S0103 | Imports by diplomatic missions |
10 | S0104 | Intermediary trade |
11 | S0190 | Imports below Rs.5,00,000 – (For use by ECD offices) |
12 | SO202 | Payment for operating expenses of Indian shipping companies operating abroad |
13 | SO208 | Operating expenses of Indian Airlines companies operating abroad |
14 | S0212 | Booking of passages abroad – Airlines companies |
15 | S0301 | Remittance towards business travel |
16 | S0302 | Travel under basic travel quota (BTQ) |
17 | S0303 | Travel for pilgrimage |
18 | S0304 | Travel for medical treatment |
19 | S0305 | Travel for education (including fees, hostel expenses etc.) |
20 | S0401 | Postal services |
21 | S0501 | Construction of projects abroad by Indian companies including import of goods at project site |
22 | S0602 | Freight insurance – relating to import and export of goods |
23 | S1011 | Payments for maintenance of offices abroad |
24 | S1201 | Maintenance of Indian embassies abroad |
25 | S1202 | Remittances by foreign embassies in India |
26 | S1301 | Remittance by non-residents towards family maintenance and savings |
27 | S1302 | Remittance towards personal gifts and donations |
28 | S1303 | Remittance towards donations to religious and charitable institutions abroad |
29 | S1304 | Remittance towards grants and donations to other Governments and charitable institutions established by the Governments |
30 | S1305 | Contributions or donations by the Government to international institutions |
31 | S1306 | Remittance towards payment or refund of taxes |
32 | S1501 | Refunds or rebates or reduction in invoice value on account of exports |
33 | S1503 | Payments by residents for international bidding. |
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The information provided under this website is solely available at your request for informational purposes only, should not be interpreted as soliciting or advisement. We are not liable for any consequence of any action taken by the user relying on material/information provided under this website. In cases where the user has any legal issues, he/she in all cases must seek independent legal advice
