Bank Account Details from where payment being made
Bank Branch Address from where payment is being made
Declaration form as a backup for NO permanent establishment (PE) in India, if applicable
DSC of the remitter (if remittance limit is above certain limit)
Email ID and Contact number of the person making payment
Free expert consultancy on anything related to your remittance Documents preparation and checking Application Filing Instant delivery of certificate as per your need
No time limit is prescribed for filing this form. However, it should be filed before the remittance is made.
A penalty of Rs. 1 lakh for each default of non-filing forms 15CA/CB will apply. An option for the withdrawal of Form 15CA shall be available before payment. Form 15CA can be withdrawn within 7 days of the online form submission.
In some cases, CA is mandatory to be assigned, such as filing forms 15CA and 15CB. In case where any payment / aggregate of payments exceeding ₹5 Lakh in a FY, chargeable to income tax is made to a Non-Resident.
Any remittance to a non-resident person, such as gifts, maintenance of relatives abroad, etc., under LRS would attract TCS at 20%, which the resident can adjust against the income tax payable for that financial year.
Yes, Form 15CA can be withdrawn within 7 days from the date of Submission. The link to withdraw the submitted form will be available on the website of the Assessee concerned.
1. Remitters and beneficiaries will be the same. For this please provide:
1.1. PAN number
1.2. Full Address in India and in foreign.
1.3. Email ID
1.4. Phone number
1.5. Residential status
2. Bank details in India through which remittance is being made:
2.1. Name of bank
2.2. Branch Address and BSR code
2.3. Proposed date of remittance
2.4. Purpose of transfer
3. Amount of remittance from nro to nre account
Applicability of Form 15CA is as follows:
Any person intending to make a remittance to a non-resident or foreign company, irrespective of whether the remittance is subject to tax
The remitter can be a resident, non-resident, domestic company, or foreign company
The declaration is required when the income accrues, arises, is received, or is deemed to accrue, occur, or received in India, as per Section 5 of the Income Tax Act.
Form 15CB is required to be filed by the CA when the remittance is made.
When the remittance to a non-resident or foreign company is taxable
The payment exceeds INR 5,00,000
When an order/ certificate has not been received from Assessing Officer (AO).
Form 15CA is not required when the remittance is made per the specified payment list in Rule 37BB of Income Tax Rules.
When the individual making the remittance does not require Reserve Bank of India approval according to Section 5 of the Foreign Exchange Management Act (FEMA), 1999.
Form 15 CA is also not required when the remittance is exempted from tax under the Income Tax Act or a relevant tax treaty.
When an individual and the aggregate amount make the remittance during the financial year does not exceed five lakh rupees, and the remittance is not for a foreign tour or payment for the purchase of any foreign asset.
When an individual makes the remittance to pursue education abroad, the amount does not exceed the limit prescribed by the RBI.
Form 15CB is not required when the remittance is not taxable in India.
If the remittee's country of residence considers the income taxable and the remittance is sent to that country.
Form 15CB is not necessary if the total remittances during the fiscal year do not surpass Rs. 5,00,000.
When an individual makes the remittance and is not for a foreign tour or payment for the purchase of any foreign asset, the amount does not exceed the limit prescribed by the RBI.
When an individual makes the remittance to pursue education abroad, the amount does not exceed the limit prescribed by the RBI.
As per the latest rules and regulations, the payments where Form 15CA and Form 15CB are not required include the following:
Indian investment abroad
Advance payment against imports
Intermediary trade
Imports by diplomatic missions
Loans extended to Non-Residents
Imports below Rs.5,00,000
Construction of projects by Indian companies/firms, including import of goods at the project site
Freight insurance
Operating expenses of Indian Airlines Firms
Travel under basic travel quota (BTQ)/ pilgrimage/ medical treatment/business travel/education
Payment for operating expenses of Indian shipping firm/companies operating abroad
Payments for maintenance of offices abroad
Remittances by foreign embassies in India
Remittance by non-residents toward family maintenance and savings
Remittance toward donations and personal gifts
nations to charitable and religious institutions abroad can be remitted.
Remittances for donations and grants to charitable institutions of foreign governments and governments themselves are permitted.
Donations or Contributions to international institutions
Refunds or reduction or rebates in invoice value on account of exports
