15CA - 15CB Filing
Easily file Forms 15CA & 15CB with Easy My Tax for smooth foreign remittance compliance. Get expert CA certification, accurate documentation, and timely submission as per RBI and Income Tax rules. Fast, secure, and hassle-free service.
Form 15CA & 15CB Filing – Foreign Remittance Compliance Made Simple with Easy My Tax
If you are an Indian resident making payments to or receiving payments from a foreign entity, you must comply with the Income Tax Act, 1961. This includes filing Form 15CA and Form 15CB before remitting funds abroad.
At Easy My Tax, we simplify this process. Our team of experts ensures your filing is accurate, timely, and fully compliant with legal requirements.
What are Form 15CA and Form 15CB?
Form 15CA is a declaration submitted online by the remitter before sending money to a non-resident. It allows the Income Tax Department to track foreign transactions and ensure proper tax deduction.
Form 15CB is a certificate issued by a Chartered Accountant. It confirms that the payment complies with tax rules and that applicable taxes have been paid, especially when the payment exceeds ₹5 lakh.
Legal basis under Section 195 of the Income Tax Act, 1961
Section 195 mandates that any payment to a non-resident or foreign company must be subject to tax deduction at source if applicable. Before remitting the payment, the remitter must file Form 15CA and may also need to obtain Form 15CB from a Chartered Accountant.
When is Form 15CA required?
- For all payments to non-residents or foreign companies
- Applicable to residents, non-residents, individuals, and companies
- Required unless the payment is exempt under tax laws or listed in Rule 37BB
When is Form 15CB required?
- When the remittance is taxable in India
- The total payment during the financial year exceeds ₹5 lakh
- No certificate or order from the Assessing Officer has been obtained
When is Form 15CA not required?
- The remittance is listed in the specified payment list under Rule 37BB
- The remittance is not taxable under Indian law or relevant DTAA
- The remitter is an individual and the total remittance does not exceed ₹5 lakh for the year, excluding payments for foreign assets or tours
- The remittance is for education abroad within the RBI-prescribed limit
When is Form 15CB not required?
- The remittance is not taxable in India
- The total value of remittances during the year does not exceed ₹5 lakh
- The remittance is for education, travel, or medical expenses within RBI limits
Examples of payments where 15CA/15CB are not required
- Imports below ₹5 lakh
- Indian investment abroad
- Personal gifts and donations
- Travel, education, or medical treatment
- Operating expenses of Indian airlines and shipping companies
- Remittance for tax refunds
- Payments for international bidding
- Remittances by foreign embassies or for maintenance of family members abroad
Structure of Form 15CA
Form 15CA has four parts:
- Part A: Remittances up to ₹5 lakh during the financial year that are taxable
- Part B: Remittances above ₹5 lakh with a certificate from the Assessing Officer
- Part C: Remittances above ₹5 lakh with Form 15CB from a Chartered Accountant
- Part D: Remittances not chargeable to tax
Structure of Form 15CB
- Part A: Basic details of the remitter, beneficiary, and payment
- Part B: Confirmation of compliance with Income Tax Act and DTAA
- Part C: Certification of correctness by the Chartered Accountant
- Annexure: Optional additional information
Penalty for non-filing
A penalty of ₹10,000 per default may be imposed for failure to file or late filing of Form 15CA or 15CB.
Information required to file the forms
- PAN of both remitter and beneficiary
- Amount and purpose of the remittance
- Taxability and applicable DTAA sections
- Bank details of both parties
- Chartered Accountant certification (if Form 15CB is required)
Step-by-step procedure for filing
- Ensure valid PAN of remitter
- Determine taxability and need for Form 15CB
- Obtain Form 15CB from a Chartered Accountant (if required)
- Fill out Form 15CA online on the Income Tax portal
- Upload both Form 15CA and 15CB
- Keep the acknowledgment for reference
How Easy My Tax helps
Easy My Tax offers expert assistance for complete Form 15CA and 15CB filing. We ensure:
- Proper tax assessment
- Accurate form preparation
- Timely submission to avoid penalties
- Guidance from qualified Chartered Accountants
Get started today
If you're planning a foreign remittance, let Easy My Tax take care of your compliance. Contact us now and file your forms without stress or delays.
