TaxFinancial Glossary
Form 15CA / 15CB
Definition
Forms required for foreign remittances from India. Form 15CA is an online declaration by the remitter (person sending money) furnishing details of the payment. Form 15CB is a certificate from a Chartered Accountant certifying that appropriate TDS has been deducted and DTAA provisions have been considered. 15CB is mandatory for remittances exceeding Rs 5 lakh.
Why It Matters
NRIs selling property or repatriating investment proceeds from India must file these forms before the bank will process the remittance. Failure to furnish 15CA/15CB results in the bank blocking the transfer. Planning for these forms well in advance of your repatriation timeline is essential — CA certification can take 5-10 working days.