NRI OCI NRO A/c Money Repatriation – Form 15CA 15CB Services Chartered Accountant

NRI Repatriation Services And Filing Form 15CA, 15CB – Chartered Accountant Consultancy And Certificate Services – NRI, OCI, PIOs Remittance of Money From NRO Indian Bank To Abroad, Payment To Non-Residents & TDS U/s 195, Tax Advisor In Delhi NCR, Mumbai, Bangalore, Chennai, Kolkata, Gurgaon, Hyderabad, Kochi, Noida, Kerala, Punjab, UP, Dehradun, Chandigarh, Other Cities, India

In relation to NRIs, OCIs remittance of money from NRO Account to NRE Account or Foreign Bank Account, bank requires form 15CA 15CB. These two forms are submitted online with the Income Tax Department. We assist NRIs in preparation & filing of Forms 15CA 15CB with the Income Tax Department. We have our offices in all major cities in India. We also assist NRIs in many cases to communicate with Banks to smooth the repatriation process.



With globalisation, cross border financial transactions are common including payment/remittance of money from India to Abroad. In case of NRIs, Other Non-residents, general transactions are repatriation from NRO account to NRE/Foreign Bank Account. Under the banking system, these transactions are regulated through certain Income tax and RBI provisions. Under Income Tax Provisions, generally, Payment or Remittance of Money happens in following two categories:

  • One is When NRIs (or PIOs / OCIs) remit money from NRO Bank Account to NRE Account or Foreign Account.
  • Second category is – When a payment is made from India by Indian Residents to Non-Residents outside India (i.e. NRIs, Foreign Companies, OCIs, PIOs, Foreign Citizens Abroad etc) e.g. royalty, consultancy fee, business payments etc i.e. where payment contain any income element.

In above both cases, as per the procedures, there is a requirement of submission of Form 15CA and Form 15CB. Both are Income Tax Forms under section 195 of Income Tax Act.

In the first category (Remittance/Repatriation by NRI), TDS provisions does not apply as the money is remitted by NRI from their NRO bank account to NRE/Foreign bank. However, bank requires the Form 15CA & 15CB from NRI/PIO/OCI. Hence, in this case, Form 15CA & 15CB is mandatory requirement of banker. Hence, NRI (or PIO/OCI) approaches a Chartered Accountant for preparation of Form 15CA & 15CB.

Further, in the second category (Payment to Non-Residents), where payment (containing an income component) is made to Non-Resident, there is a requirement of withholding & deposition of TDS and to submit Form 15CA & 15CB. Again, CA services are required for preparation and submission of Form 15CA and 15CB. However, this procedure is responsibility of Indian Resident remitting money to Non-residents.

Also read – Can NRIs, Foreign Citizens, OCIs, Can Buy/Sale/Gift/Inherit Agriculture Land, Farm House or Plantation Property In India?


Remittance of money from India (Indian NRO Bank Account) to NRE/Foreign Bank is a common & frequent requirement of NRIs, OCIs, PIOs. Their money is held in their Indian NRO Bank Accounts, which they wish to remit to NRE/Foreign Bank as per their need.

  • Generally, NRIs, PIOs, OCIs accumulate their money in their NRO account in India, in saving or fixed deposit account. They accumulate this money out of the funds they remit from their foreign account. In many cases, NRIs earn this money on their investments in India (rental or interest income).
  • NRIs, PIOs, OCIs also receive money in their NRO account from the sale of their property or mutual funds or in India.
  • In many cases, NRIs, OCIs received money as Gift from their close relatives in India.
  • In all scenarios, when money accumulates in Indian NRO Bank Account, Since, NRIs/OCIs need money abroad, they wish to remit NRO account money from India to Foreign account abroad.
  • NRIs also plan to remit funds from NRO to NRE account to earn similar return without the exposure of Indian Taxation. Also, remittance from NRE account to Foreign account can be done anytime very conveniently.
  • Now, when NRIs wish to remit their NRO account money to NRE account or Foreign Account, the banker in India demand certain paper formalities. Of these requisite documents, two main documents are Form 15CA and Form 15CB.
  • Here, TDS is not applicable, as this is remittance by NRIs from their own account to own account.
Also read – How To File ITR In India?

How Can NRIs File For ITR For Earlier Years and Claim Refund?

What Are Benefits Or Consequences of Filing or Non-filing of ITR By Non Residents in India?

As Per Section 195 of the Income Tax Act, TDS is applicable on any payment (containing income element), which is being made to Non-Residents (i.e. NRIs, Foreign Companies, OCIs, PIOs, Foreign Citizens Abroad etc). Hence, in other words, if someone is making payment to Non-Resident then he has to withhold tax on the payment he is making to a Non-Resident (i.e. NRIs, Foreign Companies, OCIs, PIOs, Foreign Citizens Abroad etc). Other provisions of section 195 are:

  • Here, it is important to understand that this provision is different from NRI remittance of money. Here, remitter of money is other person and recipient is other. Here TDS is applicable.
  • Tax withholding (TDS) rate is as per rates in force. Hence, the TDS rate is maximum rate as per the provisions of act applicable on such nature of income e.g. if payment is for purchase of long term immovable property then TDS rate is @20% plus surcharge & cess.
  • TDS rate is subject matter of any relief under the Double Tax Avoidance Agreement (DTAA) or special rate provided in the Income Tax Act e.g. Fee for Technical Services or Interest Income. In many DTAAs the rate on these items are 10% or 15%.
  • Form 15CB (a CA Certificate) and Form 15CA gets submit (online) for these payments.
  • TDS rate can be lower rate or nil rate. For nil rate or lower rate TDS, the payer or payee can file an application (u/s 195 or u/s 197) with the Jurisdictional Assessing Officer (Juris AO). Once Juris AO allows TDS Exemption Certificate or Lower Rate TDS Certificate the payer makes payment after giving effect of TDS as per the certificate and makes the payment to Non-Resident (i.e. NRIs, Foreign Companies, OCIs, PIOs, Foreign Citizens Abroad etc).
Reserve Bank of India (RBI) Regulations for repatriation of money by Nri pio – NRI One Million dollar scheme
  • RBI regulations allows NRIs PIOs to repatriate upto One Million US dollar (1,000,000 USD) per financial year.
  • There is no requirement of RBI approval to repatriate money by NRIs or PIOs unto this amount.
  • If any NRI or PIO wish to remit money more than this limit then there is a requirement to seek prior RBI approval.
  • This limit is per person basis.
  • This limit is per financial year basis. Hence, NRIs can remit money in each financial year unto One Million USD.
Basic Information Wrt Form 15CA and Form 15CB
  • Form 15CB is a Chartered Accountant (CA) certificate, where the information about nature of income and its taxation is mentioned.
  • Form 15CA is a declaration by the remitter, which is based on Form 15CB.
  • Both the forms (Form 15CA and 15CB) are prepared online and submitted with the Income Tax Department.
  • The CA verifies the source details of remittance and ensure that the taxes are duly paid in India, if any.
  • After the verification process, the CA prepares the Form 15CB (which is an online process) with all requisite details. In this Form, CA submits various details as per the details given in next para.
  • On the basis of 15CB itself, a Chartered Accountant prepares the Form 15CA as well and submits the same online.
  • When the CA submits the two forms i.e. 15CB and 15CA, an acknowledgement generates, which is provided to the Banker for processing of remittance.
  • Besides Form 15CB, CA also generate a Unique Document Identification Number (UDIN) on ICAI web portal as per the ICAI Regulations. Banks can verify the UDIN online.
Form 15CA and Form 15CB – Requisite For Form Preparation:
  • Remitter Details – Remitter Name, Address etc.
  • Beneficiary Details – Beneficiary Name, Address, Country, Currency etc
  • Bank Details – Remitting bank details, branch details, BSR Code etc.
  • Amount – Proposed amount of remittance in Indian Currency as well Foreign Currency
  • Date of remittance – Proposed date of remittance of money
  • Nature of remittance
  • TDS details if applicable
  • DTAA details if DTAA benefit applies
  • RBI code details for remittance purpose etc
  • Reasons of non-deduction of tax – Eg remittance by NRIs from their NRO account to NRE/Foreign Bank.
Time duration for filing of Form 15CA and Form 15CB and remittance of money by NRIs OCIs:
  • It takes 1-3 days for verification procedure as well preparation & filing of Form 15CB and 15CA.
  • Once the 15CA and 15CB is submitted, its acknowledgements can be provided to Bank (along with remittance requisition form).
  • Banks, generally, process the remittance immediately after receipt of acknowledgements of Form 15CA and 15CB.
NRIs, OCIs, PIOs, Foreign Citizens – Requirement of Various Services In India
General FAQs – Form 15CA 15CB – NRIs, Foreign Companies, OCIs, Residents, Indian Companies, PIOs etc

Q: What are the FEMA and Income Tax Rules, Regulations in India in relation to Remittance of money by NRIs or PIOs from their NRO Account to NRE / Foreign Bank Account? What are foreign money transfer rules for NRIs, PIOs?

Ans: In India, NRIs or PIOs need to comply two laws before remitting money from Indian NRO account to NRE account or Foreign Account. Firstly, NRIs need to comply RBI Exchange Control Regulations, which allow NRIs or PIOs to repatriate upto One Million USD Per Financial Year. Secondly, as per the Income Tax Provisions and bank requirement, NRI need to Submit Form 15CA and 15CB with the Income Tax Department. For the form 15CA and Form 15CB, NRIs has to seek services of a Chartered Accountant Firm.

Q: Why Form 15CA and 15CB is required for NRIs for remitting Funds from NRO Account to their Foreign Bank Account? What are Non-Resident Income Tax Rules for Outward India Remittance of Money?

Ans: Form 15CA and 15CB is a requirement of Income Tax Laws. As per Income Tax Act, Section 195, when there is a payment to a Non-Resident of taxable income then remitter has to submit Form 15CA and 15CB with the Tax Authorities. In case of an NRI (or PIO), who remits fund from their NRO Bank Account in India to Foreign Bank Account (or even NRE Bank Account), the banks require the Form 15CA and Form 15CB. Though, as per the Income Tax Law, in such transactions (remittance of money by NRIs from Indian Bank Account to Foreign Bank Account), the provisions are not straightway applicable, however, the bank require the compliance of Form to keep a full proof check that no remittance is made from India without compliance of taxes.

Q: What are the Chartered Accountant (CA) Requirements in relation to completion of Form 15CA and 15CB for NRI transactions? What are the documents and records required by the CA in this regard?

Ans: In relation to NRI Transactions, Chartered Accountant verifies payment of due taxes in relation to remittance amount. In this regard, CA generally requires past few years records such as copy of ITR, 26AS, NRO & NRE Bank Statements etc. In case, there is any tax payable, chartered accountants ask the NRI/OCI to pay the tax first before submitting the Form 15CA and 15CB.

Q: What are Form 15CA and Form 15CB? How to submit the Form 15CA and Form 15CB?

Ans: Form 15CB is a Chartered Accountant Certificate in a prescribed format of Income Tax Deptt. Form 15CA is replica of Form 15CB wrt information. Both the Forms are to submit online on the Income Tax Department Portal ( To submit the Forms on the Income Tax Portal, assessee needs to create a registration idon the Income Tax Portal.

Q: What is RBI One Million Dollar Scheme of NRIs PIOs? What is RBI Rule or Guideline For Outward Remittance of Money By NRIs and PIOs?

Ans: One Million Dollar (1,000,000 USD) scheme is RBI Regulation, where NRIs or PIOs are allowed to repatriate abroad upto one million USD per financial year from their NRO bank account in India. There is no RBI approval required if NRIs wish to remit abroad any amount within this limit in a financial year. Here it is important to know that this one million dollar amount is per person basis and per FY basis. In next year again the same amount is allowed for remittance to NRI without any prior RBI Approval.

Q: What are the consequences if NRI does no comply with Form 15CA and Form 15CB? Whether remittance of money can be done without Form 15CA and 15CB?

Ans: Any remittance of money from India to outside India needs bank services. Without Bank services, money cannot be moved outside India. Form 15CA & 15CB is a mandatory requirement of all the banks for remittance of money by NRIs. Without Form 15CA & 15CB, bank will not process the remittance of money from NRO account.

Q: Whether CA Firm Can Help NRIs OCIs in communicating with Bank and assist the Repatriation Process Smoothly?

Ans: At S Lohia & Associates, we do assist in communicating with Bank if necessary so that doubts of banker can be clarified and repatriation happen smoothly. Also, at S Lohia & Associates, on our regular experience of repatriation transactions, in relation to some prominent banks, we assist in initiating a communication set up with bank and complete their document/clarifications requirement to complement the hassle free repatriation of money. As per our experience, it really helps NRIs OCIs a lot.

Q: What are the Income Tax related compliances an NRI need to check besides Form 15CA and Form 15CB?

Ans: NRI or PIO must check/comply following besides Form 15CA and 15CB:

  • Clarity of Source in relation to money under remittance process.
  • Maintenance of all the Records in relation to Source of money.
  • Computation of Taxes on the same and payment of that before remittance.
  • Filing of Income Tax Return by due date (this may happen after remittance of money also).
  • Seek proper advisory of some Tax Consultant or Chartered Accountant to check the compliance of laws.

Q: Whether NRI or PIO need to present in India to remit the funds and filing the Form 15CA and Form 15CB?

Ans: No. Now, banking facilities are very convenient. Any NRI or PIO, sitting in foreign country (e.g. USA, UK, Singapore etc), can remit the funds from their bank account in India. Banks provide multi services to their NRI customers to keep the transactions very easy and fast. Further, for submitting of Form 15CA and 15CB, NRIs need not to come to India. They can contact a CA for this, who will prepare and submit these forms. Information in this regard, for preparation of these forms, is exchanged via email.  Forms are submitted online through Income Tax Account of NRIs (which is created online). There is no need of signature etc on any physical form. After submission of form online, acknowledgement is generated. NRI can provide that acknowledgment to its banker via email. If needed, CA firm can also send hard copy of these forms to the banker. Hence, NRI need not to come to India in this regard.

S Lohia & Associates – A Chartered Accountant firm, Tax advisors, non-resident tax expert – special team for Services to NRIs, Expats, Foreign Citizens Matters

We, S Lohia & Associates, are a Chartered Accountant and Tax Advisory Firm in India, keeping offices and associates across India and also abroad. Our service team include a separate team to service its Non-Resident clients i.e. NRIs, Foreign Citizens (Indian origin as well foreign origin) for their Tax Matters, Foreign Exchange Regulations (RBI Laws). Some of our service ingredients:

  • Experienced and dedicated Team for Non-Resident Tax and Regulatory Matters
  • One Contact Person Service for all matter in relation to Non-Resident client
  • Served many hundreds of matters of Non-Resident clients
  • Our techniques and guidance plug the mistakes & errors and avoid future litigation
  • Efficient & Effective Service Team
  • Time Saving By Minimum Time Duration To Complete The Assignments
  • Various Support Services To Its Non-Resident Clients e.g. Representative Services, Address Services, Liaison Service etc
  • Having offices/access to all major cities in India for Tax, Regulatory and other Matters.
  • We do on routine basis Form 15CB and 15CA services to various Non-Residents. Our team help & advise NRIs PIOs in smooth & fast remittance of money. We advise and assist NRIs PIOs in computing & payment of taxes in India, if any.
  • We also advise some tricks and techniques for fast processing of outward remittance e.g. selection of bank account, parallel action plan on various processes.
  • We at S Lohia & Associates, provide 15CA and 15CB services to hundreds of NRIs, OCIs on regular basis. Our team also advise the best and effective tax planning before filing of 15CA and 15CB.



S Lohia & Associates Chartered Accountants 
Address : 1301, Naurang House (13th Floor),
21 Kasturba Gandhi Marg,
Connaught Place, New Delhi 110 001.
Tel No. : +91-11-43505250, 66095250
Tel Fax No. : +91-11-43505250
Mobile No. : 9810353219, 9910353219
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