Form 15 CA User Manual (2024)

FAQs

What is the form 15CA for? ›

Form 15CA is available to all persons requiring to file declaration form of the foreign remittance made outside India. This form is filed for each remittance made by a person responsible for such remittance, before remitting the amount and can be submitted in both online and offline modes.

Download the Form 15CA Offline Utility: get it from the "Downloads" section on the Income Tax Forms page. Prepare individual XML files for Remitter, Remittee, and CA (only for Part-C). Zip all the XML files. For Part-C: Import the Form 15CB XML submitted by your CA (downloadable from View e-Filed Forms).

What is Form 15G used for? Form 15G is required to be submitted as a self-declaration by individuals who are below the age of 60 years that their income is below the taxable threshold, and so no TDS should be deducted for the income credited to their account.

In case you are sending money abroad to cover educational expenses, there is an exemption from TCS up to a maximum of Rs.7 lakh. For transactions above this threshold, TCS charges of 0.5% will be applicable if the funds are being provided via a loan.

Remittances received as income, maybe for services rendered or as a consultancy fee, are taxable as per the individual's tax slab. Thanks to the Double Taxation Avoidance Agreement (DTAA) between India and several countries, one doesn't have to pay tax twice on the same income.

The process of e-filing Form 15CA income tax

Go to the e-File tab and select Prepare and Submit Online Form (Other than ITR). Select Form No. 15CA from the drop-down menu and enter the assessment year and PAN of the remitter. Fill in the details in Part A, B, C, or D of the form as applicable and click on Submit.

This form can be e-Verified using DSC or EVC. You need to e-Verify using DSC if DSC is registered.

What is remittance under lrs us 206C 1G a? ›

Section 206C(1G) of the Income-tax Act, 1961, addresses the collection of tax at source (TCS) on specific remittances made under the Liberalised Remittance Scheme (LRS). Under this scheme, individuals are permitted to remit up to USD 250,000 per financial year for permissible current or capital account transactions.

It is not mandatory to submit Form 15G/Form 15H, but it can prevent excess tax pay out if you are eligible for TDS relief. Non-resident Indians (NRIs) are not eligible to submit Form 15G or Form 15H as per current rules.

Form 15 informs the SEC that a company no longer wants to trade publicly, and therefore won't follow the usual government reporting requirements. The form is most often used by small companies with few shareholders who find the SEC reporting regulations burdensome.

Form 15G is a declaration form under section 197A of the Income Tax Act, 1961. The Form can be used for declaring your total taxable income when it is less than the maximum exempt limit. That means, your total taxable income for the financial year does not make you liable to pay any taxes.

Form 15CB is an Accountant's certificate required for payment to be made to a Non-Resident (not being a Company) or to a Foreign Company, which is taxable and if the payment / aggregate of such payments exceed ₹5 Lakh in the financial year.

Log in to the e-Filing portal and navigate to “e-File” > “Income Tax Forms” > “File Form 15CA”. Enter basic details such as PAN/TAN (auto-populated), financial year, filing type, and submission mode (“Offline/Bulk”). Download the Form 15CA Offline Utility from the “Downloads” section on the Income Tax Forms page.

For how long are form 15CA and 15CB valid? There is no prescribed time limit for Form 15CA and Form 15CB. However, it needs to be submitted before the remittance to bank authorities.

15CA and 15CB are required for any payment to NRI or when transferring money from NRO to NRE account. Once transfer is made to NRE account, there is no mechanism to bring back the money if any tax is not paid. By requiring 15CB and 15CA, RBI and IT department is ensuring that the income tax, if any, has been paid.