Compliant foreign remittances with correct TDS.
Before remitting money abroad to a non-resident, Indian tax law requires reporting of the payment through Form 15CA, and in many cases a certificate from a Chartered Accountant in Form 15CB. These forms ensure that any tax due on the foreign payment is deducted at source before the funds leave India. Form 15CB involves examining the nature of the remittance, the applicable rate of TDS under the Income Tax Act, and the beneficial provisions of the relevant Double Taxation Avoidance Agreement (DTAA) and tax residency certificate. We analyse your remittance, determine the correct withholding, and file 15CA/15CB accurately so your bank processes the transfer smoothly and you stay fully compliant.
Businesses and individuals making payments to non-residents or foreign companies.
Timelines and government fees are indicative and subject to processing by the relevant authority. Approval and its timing are decided by the authority and cannot be guaranteed.
Generally for taxable foreign remittances above the prescribed limit; a CA certifies the applicable tax.
It can reduce or eliminate the TDS on a remittance if a tax treaty and tax residency certificate apply.
The remitter files 15CA online; banks require it before processing the transfer.
Tax Guider — A unit of Corpzen Advisors Private Limited, Chennai, Tamil Nadu.
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