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15CA - 15CB Filing – Compliance for Foreign Remittances
If you’re an Indian resident involved in sending or receiving payments to or from a foreign entity, you’re required to comply with the provisions of the Income Tax Act, 1961. Specifically, before any remittance to a non-resident, you must file Form 15CA and Form 15CB with the Income Tax Department.
The process can be technical and requires a strong understanding of Indian tax laws and international taxation norms. India Company Setup simplifies this compliance for you. Our expert team handles the end-to-end filing of Form 15CA and 15CB—ensuring timely and accurate submissions without the hassle.
Understanding Section 195 of the Income Tax Act, 1961
According to Section 195, any person responsible for paying a sum to a non-resident must deduct tax at the applicable rate before making the payment.
• Form 15CA acts as a declaration of the remittance.
• Form 15CB, issued by a Chartered Accountant, certifies that the payment is in line with tax laws and applicable
Double Taxation Avoidance Agreements (DTAAs).
Why Are Form 15CA and 15CB Important?
These forms ensure the proper tax treatment of foreign remittances and help the Income Tax Department track cross-border transactions.
• Form 15CA is filed by the remitter as a self-declaration.
• Form 15CB is a CA-certified document confirming the taxability and correctness of the remittance.
Form 15CA Overview
Form 15CA is submitted online via the Income Tax Department’s portal before remitting funds. It captures key details about the nature of the remittance and ensures taxes are deducted and reported accurately.
Form 15CB is issued by a Chartered Accountant. It verifies that:
The remittance is taxable in India
The correct TDS rate has been applied
The DTAA (if applicable) has been considered
It is required for taxable foreign payments exceeding ₹5,00,000 in a financial year.
When Are Form 15CA & 15CB Applicable?
Form 15CA is required when:
• You are making a remittance to a non-resident or foreign company
• Regardless of whether the payment is taxable in India
• The payment involves income that is accrued or arises in India
Form 15CB is required when:
• The remittance is taxable in India
• The amount exceeds ₹5,00,000
• You haven’t received a certificate or order from the Assessing Officer
When Are These Forms Not Required?
Form 15CA is NOT required when:
• The payment falls under the specified list in Rule 37BB of the Income Tax Rules
• The remittance is not chargeable to tax
• It is covered under DTAA exemptions
• The total remittance during the financial year is less than ₹5,00,000
• The remittance is for education, medical treatment, or business travel within RBI limits
Form 15CB is NOT required when:
• The remittance is not taxable
• The payment is to a country with a DTAA and the income is not taxable
• The total amount remitted in the financial year is less than ₹5,00,000
• The purpose includes education, foreign travel, or maintenance within the RBI limits
Specified Payments Where 15CA/15CB Is Not Required
Some exempt categories include:
• Foreign investments by Indian entities
• Advance imports
• Diplomatic payments
• Remittances below ₹5,00,000
• Office expenses abroad
• Education and medical remittances under RBI limits
• Refunds, tax payments, charitable donations, and more
Form 15CA – Parts Explained
Form 15CA is divided into four parts based on the remittance type and taxability:
Part A – Taxable remittances up to ₹5 Lakhs in a financial year
Part B – Remittances above ₹5 Lakhs with an AO certificate
Part C – Taxable remittances above ₹5 Lakhs requiring Form 15CB
Part D – Remittances not chargeable to tax under the Act
Form 15CB – Sections Covered
Part A – Remitter/beneficiary details and nature of remittance
Part B – CA certification on tax compliance and applicable DTAA sections
Part C – CA’s declaration of the accuracy of information
Annexure – Additional optional details (if needed)
Penalties for Non-Compliance
Failure to file Form 15CA/15CB, or filing them late, attracts a penalty of ₹10,000 per default.
Details Required for Filing
To file these forms accurately, the following information is needed:
– PAN of both the remitter and beneficiary
– Purpose and nature of remittance
– Remittance amount in INR
– Applicable sections of the Income Tax Act and DTAA, if any
– Bank details of both parties
– Chartered Accountant certificate (for Form 15CB)
Step-by-Step Filing Procedure
• PAN Verification: Ensure valid PAN for the remitter and recipient.
• Determine Applicability: Check if Form 15CB is required based on amount and taxability.
• File Form 15CA: Submit online on the Income Tax Department’s portal.
• Obtain Form 15CB: Get a certificate from a Chartered Accountant (if applicable).
• Submit and Upload: File both forms on the e-filing portal.
• Download Acknowledgment: Retain acknowledgment for future compliance reference.
How India Company Setup Helps
India Company Setup provides a hassle-free experience for Form 15CA/15CB filing. From eligibility assessment and document collection to CA certification and e-filing, our team ensures:
• Accurate reporting
• Full compliance with Section 195
• Timely processing and submission
• Expert guidance throughout
Let our experts handle your foreign remittance compliance.
✅ Avoid penalties
✅ Ensure tax compliance
✅ Stay audit-ready
👉 Get started with India Company Setup today.
In most sectors and businesses, a proprietorship can engage any kind of business activity that an Indian person is qualified for. Some industries, meanwhile, including banking, insurance, financial services, lending, defence, and telecommunication, call for specific authorisation. Under such circumstances, a business is legally obliged to get several Government approvals. Therefore, the structure of a proprietorship only fits for small-scale, business operations. This could be one of the restrictions of the registration of the proprietorship firm.
What We Offer
At India Company Setup, we deliver a complete suite of business services to help you start, grow, and manage your company with ease. From registration to regulatory compliance, our expert support ensures your business stays legally sound and financially organized.
Daily & Monthly Bookkeeping
- Record all financial transactions.
- Maintain audit-ready books in sync with GST and Income Tax laws
- Stay prepared for MCA and statutory filings
Financial Reporting
- Preparation of Profit & Loss Statements and Balance Sheets
- Generate detailed balance sheets.
- Deliver cash flow statements.
Reconciliation Services
- Bank and credit card reconciliations.
- Ensure accuracy of all financial data.
- Maintain accuracy for timely Income Tax and MCA submissions
Secure Digital Bookkeeping
- Utilize encrypted software for data security.
- Anytime, anywhere access to your business data
- Aligned with India's data protection and compliance standards
Benefits of Our Bookkeeping Services
1. Accurate Financial Records
Our expert bookkeeping ensures every transaction is correctly recorded, reducing compliance errors and giving you a clear picture of your company’s financial health — crucial for GST, Income Tax, and MCA filings.
2. Time-Saving
Focus on growing your business while we manage your books. By outsourcing to us, you eliminate the burden of paperwork, reconciliations, and regulatory upkeep — saving you both time and effort.
3. Better Cash Flow Management
We help you monitor income and expenses in real time, so you maintain a healthy cash position, make informed decisions, and avoid last-minute cash crunches or missed tax deadlines.
Form 15CA is a declaration made by a remitter when making a foreign remittance, ensuring that applicable income tax has been deducted at source.
Form 15CB is a CA certificate required in certain cases, confirming that the payment is in accordance with Indian tax laws.
These forms help the Income Tax Department track foreign remittances and prevent tax evasion.
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Form 15CA must be filed by the person making the remittance (usually an individual or business).
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Form 15CB is required when the remittance exceeds ₹5 lakh in a financial year and is taxable under the Income Tax Act. It must be certified by a Chartered Accountant.
Form 15CB is not required if:
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The remittance is not chargeable to tax under Indian law
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The payment is below ₹5 lakh in a financial year
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The remittance is listed under specified exemptions in Rule 37BB of the Income Tax Rules (like import payments, travel, tuition fees, etc.)
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Obtain CA certificate (Form 15CB) if applicable
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Log in to the Income Tax e-Filing portal
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Navigate to e-File > Income Tax Forms > File Income Tax Forms
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Choose and submit Form 15CA (online filing)
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Share Form 15CA and 15CB (if applicable) with your authorized dealer/bank for processing the foreign remittance
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The bank may refuse to process the remittance
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A penalty of ₹1 lakh may be levied for each failure under Section 271I
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It may lead to notices from the Income Tax Department and compliance risks
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