Features of the new guidelines for the issuance of the form 15CA and 15CB w.e.f. 01.04.2016:

  • Now both form 15CA and 15CB required to file online:

Now form 15CA and 15CB both are required to be filled online. Form 15CB will be required to file online from the login of the chartered accountants to the income tax department and form 15CA from the login of the remitter.  Earlier only 15CA was needed to file online from the login of the remitter.

  • Situation where 15CA and 15CB are not required file at all :
    • No form 15CA and 15CB required to be filled by the individual, where no approval of the RBI required.
    • The CBDT has prescribed 33 entries in respect of which no 15CA/CB required to be filled. Nature of the transaction is as per the annexure-1 below.
  • Situation where no 15CB (CA certificate) required to obtained  from CA:
    • Form 15CB will not be required till the aggregate of chargeable remittances during the financial year does not exceed Rs. 5 lakhs.
    • Form 15CB will also not be required where order/certificate of lower/no deduction is taken from the Jurisdictional Assessing Officer us 195(2), 195(3), 197 of the Income Tax Act’1961.
    • Form 15CB is also not required where the remittance is not chargeable to tax.
  • Situation where various parts of the 15CA required to be filled: Part A
    Where the remittance is chargeable to tax under the provisions of the Income-tax Act, 1961 and the remittance or the aggregate of such remittances does not exceed five lakh rupees during the financial year.  

    Part B
    Where the remittance is chargeable to tax under the provisions of the Income-tax Act,1961 and the remittance or the aggregate of such remittances does not exceed five lakh rupees during the financial year and an order/ certificate u/s 195(2)/ 195(3)/ 197 of Income-tax Act has been obtained from the Assessing Officer.

    Part C
    Where remittance is chargeable to tax under the provisions of Income-tax Act, 1961 and the remittance or the aggregate of such remittances exceeds five lakh rupees during the financial year and a certificate in Form No. 15CB from an accountant as defined in the Explanation below sub-section (2) of section 288 has been obtained.

    Part D
    Where the remittance is not chargeable to tax under the provisions of the Income-tax Act, 1961 {other than payments referred to in rule 37BB(3)} by the person referred to in rule 37BB(2).

Appendix 1 ; Overall List of Payments where no forms 15CA CB are required is as follows :

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 Rs.5,00,000 – (For use by ECD offices)
12 SO202 Payment for operating expenses of Indian shipping companies operating abroad
13 SO208 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
34 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.