Form 15CA / 15CB — Post-Registration Compliance Guide
Form 15CA and Form 15CB are mandatory declarations required by the Income Tax Department for certain foreign remittances exceeding ₹5 lakh per financial year. These forms ensure that payments made to non-residents comply with FEMA regulations, specifically regarding capital account transactions or specific current account categories like professional fees or dividends. In India 2026, strict adherence to these requirements is critical as the Income Tax Department utilizes automated systems (e-COM) to cross-verify declarations against bank statements. Failure to file accurate forms can lead to significant penalties and interest charges under Section 15CA of FEMA rules.
Before you start
- Ensure the foreign remittance exceeds ₹5 lakh in a financial year or falls under specific categories like professional fees, royalties, or dividends.
Step-by-step
Verify Transaction Category
Identify if your payment to a non-resident falls under capital account transactions (requiring Form 15CB) or current account categories like professional fees and royalties. Confirm the total remittance amount exceeds ₹5 lakh in aggregate for the financial year.
Engage Authorized Signatory
For Capital Account transactions, engage a Chartered Accountant (CA) to prepare Form 15CB with their digital signature. For Current Account categories exceeding ₹5 lakh, you must file Form 15CA digitally without CA certification.
Complete Form 15CA Online
Access the Income Tax e-Filing portal and fill out Form 15CA. Enter details of the payee (non-resident), remittance purpose, amount, and bank account information accurately before generating the declaration.
Obtain CA-Certified Form 15CB
Submit supporting documents to your authorized CA for review. The CA will verify compliance with FEMA regulations and generate the digitally signed Form 15CB, which must be uploaded alongside Form 15CA.
File via Bank Portal or e-COM
Upload both forms to your bank's remittance portal during the payment processing stage. Ensure the declaration is generated before initiating the actual fund transfer through SWIFT channels.
Retain Documentation for Audit
Maintain copies of Form 15CA, Form 15CB, bank remittance advice (FIRC), and underlying contracts. These documents must be retained for at least six years in case of an Income Tax audit or FEMA inspection.
Monitor Annual Aggregation
Track cumulative foreign remittances throughout the financial year to ensure you do not inadvertently cross the ₹5 lakh threshold without filing. Regular reconciliation prevents last-minute compliance gaps before FY-end deadlines.
Common mistakes to avoid
- Filing Form 15CA for transactions under ₹5 lakh, which is legally unnecessary and wastes time.
- Submitting inaccurate payee details or incorrect currency codes leading to rejection by the bank system.
- Delaying form submission until after the fund transfer has already been initiated.
Frequently asked questions
Is Form 15CB mandatory for all foreign remittances?
No, Form 15CB is only required for capital account transactions. For current account payments like professional fees or dividends exceeding ₹5 lakh, only Form 15CA (without CA certification) is needed.
What happens if I miss the filing deadline?
While there is no fixed statutory 'deadline' other than before fund transfer, banks may reject transactions lacking valid declarations. Delays can also attract scrutiny during annual tax assessments under Section 15CA.
Can I file Form 15CB myself?
No, Form 15CB must be prepared and digitally signed by a practicing Chartered Accountant who is authorized to sign such certificates. Self-preparation without CA certification renders the form invalid.
Does PNPC Global handle both forms?
Yes, our team assists with Form 15CA filing for current account transactions and prepares certified Form 15CB for capital accounts. We ensure compliance across India and UAE operations.
Prefer we handle Form 15CA & 15CB Certification & Foreign Remittance Compliance?
Our team in India & UAE completes every step above for clients daily — accurately and on time.