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15CA – 15CB Filing
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15CA – 15CB Filing

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Overview

What is a 15CA – 15CB Filing?

Forms 15CA and 15CB are statutory compliance documents required under Section 195 of the Income Tax Act, 1961, read with Rule 37BB of the Income Tax Rules, whenever an individual or entity in India initiates a foreign remittance to a non-resident or a foreign company

Note on Form 15CA and Form 15CB Filing

Salient Features, Documents Required, Process and Frequently Asked Questions

Important Update: Effective 1 April 2026, Forms 15CA and 15CB have been renumbered as Form 145 and Form 146 respectively under the Income-tax Rules, 2026. The compliance requirements, ₹5 lakh threshold, four-part structure, and Rule 37BB exemptions remain substantively unchanged — only the form numbers have changed for remittances initiated on or after that date. This note retains the familiar 15CA/15CB nomenclature for continuity.

1. Introduction

Forms 15CA and 15CB are statutory compliance documents required under Section 195 of the Income Tax Act, 1961, read with Rule 37BB of the Income Tax Rules, whenever an individual or entity in India initiates a foreign remittance to a non-resident or a foreign company. Together, they act as clearance verifications to ensure that Indian tax obligations are properly calculated, deducted, or exempt before capital crosses national borders.

2. Salient Features

Governing Statutory Framework

Governed under Section 195 and Rule 37BB to enforce strict Tax Deducted at Source (TDS) monitoring for foreign outbound cash transfers.

The Four-Part Structure of Form 15CA

  • Part A: Used when the remittance is taxable and the aggregate financial year transaction amount does not exceed ₹5 Lakh.
  • Part B: Triggered for taxable transfers exceeding ₹5 Lakh where a custom lower/nil withholding certificate or order has already been procured from the Assessing Officer (under sections 195(2), 195(3), or 197).
  • Part C: Applicable for taxable transfers exceeding ₹5 Lakh that require an independent certification from a Chartered Accountant via Form 15CB.
  • Part D: Utilized when the remittance is completely non-chargeable to tax in India under domestic law.

Threshold Aggregation Rule

The ₹5 Lakh threshold is computed on the aggregate value of all remittances routed to the exact same non-resident recipient within the single financial year, rather than evaluated per individual invoice or isolated transaction.

Exemptions & E-Verification

Rule 37BB contains an extensive exclusion list encompassing approximately 33 specified categories (such as key trade imports, or standard individual transfers within the Liberalised Remittance Scheme threshold) that are fully exempt from filing. Forms must be executed digitally using a Digital Signature Certificate (DSC) or Electronic Verification Code (EVC) on the portal prior to execution by an Authorized Dealer bank.

Withdrawing and Non-Compliance Penalties

A submitted Form 15CA can be completely withdrawn inside a 7-day grace window if a transaction drops or errors are found. Failing to file, or entering inaccurate data, can provoke a statutory fine of up to ₹1 Lakh per default under Section 271-I. Missing crucial 'No Permanent Establishment (PE)' declarations can further generate short-deduction liabilities along with a 1.5% monthly interest charge under Section 201(1A).

3. Documents Required

3.1 For Form 15CA (Remitter)

  • PAN of the remitter & PAN/TIN of the foreign recipient
  • Remitter Bank account details & Authorized Dealer bank branch info
  • Remittance details (Currency, gross value, RBI purpose code)
  • Underlying agreement, service contract, or purchase invoice
  • Form 15CB acknowledgment number & CA details (For Part C)
  • AO lower deduction certificate/order details (For Part B)

3.2 For Form 15CB (Chartered Accountant)

  • Invoice or contract showcasing payment layout and terms
  • Tax Residency Certificate (TRC) of the foreign remittee
  • Form 10F filled out by the non-resident recipient
  • No Permanent Establishment (No PE) formal declaration
  • Detailed TDS calculation sheet and rate logic proofs
  • Assessing Officer nil-rate order documents (if applicable)

*Turnaround Time: 1–2 business days for simple transactions; 3–5 business days for deep royalty, technical services, or capital gains analysis.

4. Filing Process Workflow

Standard Process (Parts A, B, & D)

  1. Log in to the e-filing site (www.incometax.gov.in) and head to e-File > Income Tax Forms.
  2. Choose the required target block (Part A, Part B, or Part D) based on tax parameters.
  3. Input remitter profiles, recipient info, payment data, currency, and purpose code.
  4. E-verify the declaration via digital signature (DSC) or Electronic Verification Code (EVC).
  5. Download the generated acknowledgement sheet to forward directly to your bank.

Collaborative Process (Part C with Form 15CB)

  1. Link CA: Link your practicing Chartered Accountant via their registration membership number on the portal dashboard.
  2. Initiate & Assign: Open Form 15CA, click Part C, populate initial values, and trigger the "Assign to CA" function.
  3. CA Upload: The CA logs in separately, uploads the validated Form 15CB XML, and logs the entry tracking details.
  4. Acceptance: The remitter checks "Pending Actions" on their dashboard, audits the CA files, and hits "Accept".
  5. Finalize: Complete remaining 15CA inputs, perform e-verification, and fetch the dual acknowledgement codes.

Note: Alternately, bulk uploads are supported using the offline XML formatting utilities directly downloadable from the official e-filing portal.

5. Frequently Asked Questions (FAQs)

Collapsible FAQs (or accordions) let visitors browse questions and click to expand answers, keeping pages uncluttered

Is Form 15CB always required for a foreign remittance? +
Answer: No. Form 15CB is required only where the remittance is chargeable to tax in India and the aggregate remittance to that recipient exceeds ₹5 lakh in the financial year. It is not required for remittances up to ₹5 lakh (Part A), where an Assessing Officer's certificate/order already covers the transaction (Part B), or where the remittance is not taxable at all (Part D).
Does the ₹5 lakh threshold apply per transaction or per year? +
Answer: The threshold is based on the aggregate of all remittances made to the same non-resident recipient during the financial year, not on each individual payment; several smaller transfers to the same person can together exceed ₹5 lakh and trigger the Form 15CB requirement even though no single transfer does.
Are all foreign remittances covered by Form 15CA/15CB? +
Answer: No. Rule 37BB exempts a specified list of remittance types — commonly cited as around 33 categories — from this requirement, including many personal remittances by individuals that do not require prior RBI approval, such as those made within the Liberalised Remittance Scheme's annual limit.
Can Form 15CA be withdrawn after submission? +
Answer: Yes, within 7 days of submission, where the remittance does not ultimately proceed or a correction is needed before refiling.
What happens if these forms are not filed when required? +
Answer: Beyond the practical difficulty of the bank refusing to process the remittance, failure to furnish Form 15CA/15CB, or furnishing incorrect information, can attract a penalty of up to ₹1 lakh per default under Section 271-I of the Income Tax Act.
Who can issue Form 15CB? +
Answer: Only a practicing Chartered Accountant, as defined under Section 288 of the Income Tax Act, can prepare and certify Form 15CB; it cannot be self-certified by the remitter.
What documents does the CA typically need to issue Form 15CB quickly? +
Answer: The invoice or contract, the recipient's Tax Residency Certificate (TRC), and Form 10F are generally sufficient for straightforward payments, allowing issuance within one to two working days. Transactions involving royalty, fees for technical services, or capital gains with treaty relief take longer (typically three to five working days) due to additional Permanent Establishment analysis.
What is a 'No Permanent Establishment' declaration, and why does it matter? +
Answer: It is a declaration from the non-resident recipient confirming they have no taxable presence (Permanent Establishment) in India, which can support a reduced or nil withholding tax rate under the applicable DTAA; omitting this declaration where the treaty allows for it is a common error that can lead to short deduction of tax and interest under Section 201(1A).
Is there a deadline for filing Form 15CA before making the remittance? +
Answer: There is no fixed statutory time limit for filing Form 15CA itself, but it must, as a practical matter, be completed — along with Form 15CB where applicable — before the remittance is made, since Authorised Dealer banks require the filed acknowledgement before processing the outward transfer.
Have Forms 15CA and 15CB been renamed or replaced? +
Answer: Yes. Under the Income-tax Rules, 2026, Forms 15CA and 15CB were renumbered as Form 145 and Form 146 respectively, effective for remittances initiated on or after 1 April 2026. The substantive requirements — the ₹5 lakh threshold, the four-part structure, and the Rule 37BB exemptions — remain unchanged; filings made under the old form numbers before that date continue to be valid compliance records.
Disclaimer: Requirements relating to Form 15CA/15CB (now Form 145/146), including thresholds, exempted categories under Rule 37BB, and portal procedures, are prescribed by the CBDT and are subject to periodic revision. Readers are advised to verify current requirements on the e-filing portal (www.incometax.gov.in) or consult a qualified Chartered Accountant before making any foreign remittance.


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