Payments outside India are subject to some rules or provisions. A provision of the act required the submission of Forms 15CA and 15CB. Below, we will review the details of forms 15CA and 15CB. You can also download forms 15CA and 15CB from the following links. You can find everything you wanted to know about 15CA or 15CB applicability, foreign remittances, notifications, latest updates, fees, and download links in one place.
Updates: A press release dated 14th June 2021 announced that taxpayers can now submit forms 15CA and 15CB manually to authorised dealers until 30th June 2021. You can say that the press release has relaxed the provisions to furnish 15CA and 15CB electronically on the new e-filing portal.
Applicability of Form 15CA and Form 15CB
Applicability of Form 15CA and Form 15CB: Here is the table to check which form 15CA or 15CB is applicable for which payment.
Sr.No. | Form 15CA | Form 15CB |
1 | Part A- Form 15CA (Payment is chargeable to tax + Amount of payment does not exceed Rs. 5 Lakh) |
No |
2 | Part B – Form 15CA (Payment is chargeable to tax + Amount of payment exceeds Rs. 5 Lakhs + AO certificate for lower or nil withholding tax) |
No |
3 | Part C- Form 15CA (Payment is chargeable to tax + Amount of payment exceeds Rs. 5 Lakh) |
Yes |
4 | Part D – Form 15CA (Payment is not chargeable to tax) |
No |
Non-Applicability of Form 15CA and Form 15CB
Non-Applicability of Form 15CA and Form 15CB: There are some payments to non-residents for which no form 15CA or 15CB is to be filed.
- Payment by an individual which doesn’t require RBI’s approval
- The payment covered under the negative list
Negative List for Non-Applicability for Form 15CA and Form 15CB
Negative List for Non-Applicability for Form 15CA and Form 15CB: Rule 37BB
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 ₹ 5,00,000-(For use by ECD offices) |
12 | S0202 | Payment for operating expenses of Indian shipping companies operating abroad. |
13 | S0208 | 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. |
Form 15CA
When payment made is below Rs 5 lakh
- For such payments information is required to be submitted in Part A of Form 15CA
When Payment exceeds Rs. 5 Lakh
- For such payments information is required to be submitted in Part A of Form 15CA
- Part C of Form 15CA
- Certificate in Form 15CB from an accountant
When the payment made is not chargeable to tax under IT Act
- Part D of Form 15CA is required to be submitted.
Form 15CB
When to File form 15CB: It has to be filed if both the following conditions are satisfied.
- When payment made to non-resident is chargeable to tax
- Aggregate payment is more than Rs. 5 Lakh
Documents Required for Form 15CA & 15CB
- PAN of Remitter
- Invoice for which the payment is made
- Bank account details from which payment is made
- BSR code of the bank from which payment is made
- Digital signature of Remitter
Changes in Rules
Form 15CA and Form 15CB need not be furnished by an individual for remittance which does not require RBI approval.
- The list of remittances of specified nature which does not require submission of Form 15CA and Forms 15CB as per Rule 37BB is extended.
- The payments which are above Rs.5,00,000 and are also taxable only require submission of Form 15CB.
Check Detail Instructions to File 15CA & 15CB
Different parts of the Form 15CA are for different remittances i.e:
Part A: The remittance does not exceed Rs.5,00,000 during the financial year and the remittance is chargeable to tax as per the provisions of the income tax act.
Part B: The remittance does not exceed Rs.5,00,000 during the financial year and it is chargeable to tax under provisions of the act and an order/ certificate u/s 195(2) or 195(3) or 197 of the income tax act has been obtained from the assessing officer.
Part C: The remittance exceeds Rs.5,00,000 during the financial year and it is chargeable to tax under the provisions of the act and a certificate in Form 15CB from CA has been obtained.
Part D: The remittance is not chargeable to tax under the provisions of the act [payments other than referred to in Rule 37BB(3)]
Points to be remembered
- The rules regarding submission of Form 15CA and Form 15CB are revised. These revised rules are effective from 01 April 2016
- Form 15CA and Form 15CB both are to be filed electronically
- There is a penalty of Rs.1,00,000 for each default of non-filing.
- There is an option for the withdrawal of Form 15CA before payment i.e within 7 days of submission of the Form online.
Rules referred to are applicable from which Date?