Repatriation of Funds – 15CA & 15CB Certificate Services
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Repatriation of Funds – 15CA & 15CB Certificate Services
Send Money Abroad Seamlessly with Expert RBI & Tax Compliance by SSKS & Associates, Chartered Accountants in Pune
In today’s global economy, remitting funds from India to foreign countries is increasingly common—whether for education, investments, medical treatment, gifts, or personal use. However, such outward remittances are governed by stringent guidelines under the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India (RBI), along with tax compliance requirements under the Income Tax Act.
At SSKS & Associates, a trusted Chartered Accountant (CA) firm in Pune, we offer expert advisory and Form 15CA/15CB certification services to ensure your remittances are secure, compliant, and hassle-free.
What Is Repatriation of Funds?
Repatriation of funds refers to transferring money from India to a foreign country. These transfers may arise from:
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Education or medical expenses abroad
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Overseas investments
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Personal remittances to family members
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Property sale proceeds
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NRI repatriation from NRO accounts
Our 15CA & 15CB Certification Services Include:
Preparation & e-Filing of Form 15CA on the Income Tax Portal
Issuance of Form 15CB Certificate by a Chartered Accountant
Advisory on FEMA/RBI LRS compliance
CA attestation for repatriation from NRO accounts
Purpose-specific certification (education, medical, investment, etc.)
Complete documentation support for remittance transactions
Quick turnaround with full confidentiality and accuracy
Liberalized Remittance Scheme (LRS) – RBI Guidelines
Under RBI’s LRS, resident individuals can remit up to USD 250,000 per financial year for permitted purposes:
- Education, Living Expenses, Medical Treatment
- Investments in foreign shares, real estate
- Overseas travel or business tour expenses
- Gift or donation to relatives abroad
- Foreign service/subscription payments
Every remittance under LRS must comply with documentation and tax regulations—making 15CA/15CB filing a key part of the process.
Step-by-Step Guide to Outward Remittance
Step 1: Choose an Authorized Bank
Select an RBI-authorized dealer bank or remittance service provider.
Step 2: Fill Out Form A2 & LRS Declaration
Declare remittance purpose and comply with FEMA rules. Banks may ask for supporting documents (like admission letters or bills).
Step 3: File Form 15CA & Obtain Form 15CB (If Required)
| Form | Purpose |
|---|---|
| Form 15CA | Declaration by remitter – filed online |
| Form 15CB | Certification by a Chartered Accountant validating tax compliance and DTAA applicability |
Step 4: Submit KYC & Supporting Documents
Commonly required:
PAN Card & Passport
Aadhaar (for residents)
Bank Statements
Supporting proof (e.g., invoice, agreement, sale deed)
Step 5: Fund Transfer & Bank Processing
Once verified, banks process the transfer using SWIFT or other mechanisms. Most transfers are completed within 1 to 5 business days.
Tax Collected at Source (TCS) on Foreign Remittances – Effective April 1
| Purpose of Remittance | TCS Rate |
|---|---|
| Education (financed via Indian loan) | NIL |
| Education/Medical (not loan-financed) | NIL up to ₹10 lakhs, 5% beyond |
| Overseas Tour Packages | 5% up to ₹10 lakhs, 20% beyond |
| All Other Remittances | NIL up to ₹10 lakhs, 20% beyond |
Repatriation from NRO Accounts – For NRIs
NRIs can remit up to USD 1 million per financial year from NRO accounts (e.g., rent, interest, property proceeds) subject to:
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Submission of Form 15CA & 15CB
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Source proof (e.g., sale deed, rent agreement)
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Clearance of applicable tax dues