Recently I received a query from one of the readers (NRI), she is currently working with an Indian IT company in UK. Her query was;

Hi Expert;
I work for an Indian IT company in UK (fyi I am an NRI). I also hold NRI demat account which has got my company’s ESOPs as major holdings (stocks are listed in the stock exchange). I am planning for my only son’s higher education here which seems to be quite expensive and I see the only source of funding can be the partial sale proceeds of these ESOPs and pay the required education fees. I can easily sell the stocks for this propose, but my relationship manger of the bank in India says it will be not so easy for me to take the fund outside India since the sale proceeds will come to my NRO account & I have to pay some tax along with some letter has to be submitted with bank. Since my requirement is bit urgent, I would like to know what are these all about and how should I go about?

The above query is a case of transfer of funds from NRO to NRE account. Remember: As per existing regulation fund transfer from NRE account to NRO is allowed, but not the other way round i.e. transfer of funds from NRO to NRE account is not permissible. If you don’t know NRE account is for depositing income from abroad, NRO account is mainly for putting Indian incomes. Funds can be repatriated from an NRE account. This means that the funds can be freely sent to any other country. Even funds can be transferred from an NRE account to an NRO account without any restriction, but funds in NRO account is not repatriable except upto USD 1 Million per financial year (April- March), for any bonafide purpose out of the balances in NRO account / sale proceeds of assets in India acquired by way of inheritance / legacy inclusive of assets acquired out of settlement subject to certain conditions.

Any repatriation done through NRO account should be reported to RBI by filling up prescribed forms. Now the question is what are these form & what is the exact process for these transfers?

In a recent notification during year 2012 RBI allowed NRIs to transfer funds from NRO to NRE account; See the notification on May 7, 2012 RBI/2011-12/536 A. P. (DIR Series) Circular No.117  for this propose.According to section 195 of the Income Tax Act, it is mandatory to deduct income tax from payments made or credit given to non-residents at the rates in force. When a person makes remittance to non-resident then he/she is required to supply an undertaking (in Form 15CA) accompanied by a Chartered Accountants Certificate in Form 15CB. The purpose of the undertaking and the certificate is to collect taxes at the stage when the remittance is made as it may not be possible to recover the tax at a later stage from non-residents.

What are Form 15CA & 15CB & How to furnish these forms?

Update on February 3, 2014With effect from February 12, 2014, functionality of furnishing the foreign remittance details in Form 15CA will be available on the e-filing portal of Income Tax Department

Form 15CA: Form 15CA is an undertaking by the Remitter furnished in an electronic mode at the website of the Tax Information Network ( giving details of the proposed remittance and tax deducted at source in accordance with the provisions of section 195(6) of the Income-tax Act, 1961. This information should be furnished after obtaining a Certificate in Form 15CB from a Chartered Accountant. The print out of the Form 15CA (furnished online) should be signed by authorized signatory and submitted to the bank prior to remitting the payment along with certificate of a Chartered Accountant in duplicate in Form 15CB.
The fields marked with (*) are mandatory. Select the values from the drop down wherever provided. Each transaction detail should be filled in separately.

Form 15CB: The person making the payment (Remitter) needs to obtain a certificate from a Chartered Accountant in Form 15CB. The format of Form 15CB has been prescribed by Central Board of Direct Taxes (CBDT).

Few important points to be noted while submitting Form 15CA and 15CB to the bank:

  1. Form 15CA and/or 15CB should be provided prior to the proposed remittance.
  2. Details stated in Form 15CA/ 15CB should tally with each other or with the details in the A2 form and/or supporting documents.
  3. Form 15CB should be signed/stamped : Form 15CB has to be signed and stamped by the Chartered Accountant clearly mentioning the registration number and certificate number.
  4. Sign Form 15CA : The print out of the undertaking Form (i.e. Form 15CA) should be physically signed by the remitter.

Procedure for Furnishing Form 15CA:

Update on February 3, 2014With effect from February 12, 2014, functionality of furnishing the foreign remittance details in Form 15CA will be available on the e-filing portal of Income Tax Department

  1. The person making the payment (Remitter) shall obtain a certificate from a Chartered Accountant i.e. Form 15CB.
  2. The Remitter shall then electronically upload the undertaking containing the remittance details to the IT department in form 15CA with the link
  3. The information furnished in the Form 15CA is to be filed using the information in Form 15CB.
  4. The Remitter shall take a printout of this filled up Form 15CA (which will bear an acknowledgement number generated by the system) and sign it. The Form 15CA shall be signed by the person authorised to sign the return of the income of the Remitter or the person so authorised by him in writing.
  5. The duly signed Form 15CA & Form 15CB shall be submitted in duplicate to the Reserve Bank of India/Authorised Dealer/Bank. The RBI/Authorised Dealer/Bank will then forward a copy of the Certificate & undertaking to the assessing officer (AO) concerned.
  6. The Remitter who has obtained a certificate from the AO regarding the rate at or amount on which tax is to be deducted is not required to obtain a certificate from the CA in Form 15CB. However, he is required to furnish information in 15CA and submit it along with a copy of the certificate from the AO.

Few guidelines while filling up form 15CA:

The following guidelines may be kept in mind while furnishing Form 15CA

For Remitter:

  1. Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) allotted by the Income Tax Department should be mentioned. TAN is mandatory in cases where
    • Tax has been deducted or will be deducted at source;
    • The Remitter has obtained an order under section 195(2) of the Income-tax Act from the Assessing Officer.
  2. In case an invalid PAN and/or TAN is filled in by the Remitter, the Form will not be generated.
  3. In case the Remitter does not have a TAN, it is mandatory to quote PAN of the Remitter.
  4. PAN of the Remitter should invariably be given. However, the same is mandatory if status of entity is Company or Firm. If PAN is not given in such cases, the Remitter will not be allowed to generate the Form.
  5. Details in at least two address fields for Remitter should be mentioned.
  6. Name of the entity should be mentioned in the “Name of Remitter” field.
  7. No value is to be provided in Area code, AO type, Range code & AO number. The fields will be entered by the system after validating the PAN and/or TAN.
  8. Email id and mobile no., if any, should be provided.

For Recipient of Remittance:

  1. Complete address of recipient of remittance, separated by coma, should be provided.
  2. PAN, allotted by the Indian Income Tax Department should be mentioned.
  3. If status of entity is “company”, then provide type of company i.e., “domestic” or “other than domestic”.
  4. In the field “Principal Place of Business”, the country of tax residence of the recipient of the remittance should be mentioned.

Information of the Accountant:

  1. Enter name of the Chartered Accountant in the field “Name of the accountant”.
  2. Details in at least two address fields should be mentioned.
  3. Date of certificate should not be a future date.
  4. Registration no. should be numeric.
  5. Details of accountant are not required if point no.15 is selected i.e. any order u/s 195(2)/ 195(3)/ 197 of the Income-tax Act has been obtained from Assessing Officer.
  6. Certificate number is an alphanumeric field.

Guidelines for Part B of the Form 15CA (Particulars of remittance and TDS):

  1. Provide the values as per the accountant certificate obtained in Form 15CB.
  2. In case name of the country is not available in drop down list, select value “other” from the drop down and provide name of the country. In case currency name is not available in drop down then select value ”other” from the drop down and provide name of the currency.
  3. Proposed date of remittance should be current date or a future date.
  4. Amount of TDS should be less than amount of remittance. Actual amount of remittance after TDS should be less than amount of remittance.
  5. BSR code of the bank through which the remittance is made should be mentioned.
  6. Rate of TDS as per DTAA (if applicable) should be mentioned upto two decimal places.
  7. Amount should be mentioned upto 2 decimal places. Select any one out of fields 12, 13, 14 and 16. One form is to be filled for one type of remittance.
  8. Details of “responsible person” should be mentioned for verification.
  9. If no tax has been deducted then value “0.00” should be mentioned in “Amount of TDS” field (foreign currency and Indian Rupees). Value for “rate of deduction as per the Income-tax Act” should be “0.00” if no tax has been deducted and “amount of TDS in Indian and foreign currency” should be “0.00”.

Generation of Form 15CA :

  1. After furnishing the details in Part A & Part B, a confirmation screen with data filled up by the user would be shown. On confirmation, a filled up Form 15CA with an acknowledgement number will be displayed. Print out of the Form should be taken, signed and submitted prior to remitting the payment.
  2. Form 15CA can be re-printed by selecting the re-print option. For re-printing, please enter “acknowledgement no.”, “PAN” and/or “TAN” mentioned in the Form.

Few Questions & their Answers:

Question: How much time is required to file form 15CA after form 15CB? Is there is any time limit to file 15CA after 15CB?
Answer: Form 15CA is required at the time of remittance. Bank will not remit money outside India without having Form 15CA and Form 15CA cannot be generated without getting Form 15CB duly signed by CA.

Question: Can any change be made in case any mistake happened /insufficient data entered while filling for 15CA and the acknowledgement has already been generated?
Answer: No issue, a new Form can be generated against old Form 15CA.

Question: Does any Indian Company having branch outside India needs such Forms to be furnished while meeting their branch expenditure abroad?
Answer: Yes, it is mandatory to prepare form 15CA/15CB for all remittances even it is a payment of branch expenses. Form 15CA/CB is just to check the tax liability on the remittance irrespective of the purpose.

Use 15CA & 15CB forms to transfer funds to Non-Residents

51 thoughts on “Use 15CA & 15CB forms to transfer funds to Non-Residents

  • June 13, 2013 at 6:22 PM

    Can u please solve my query
    a person of india now having the citizenship of US want to sell his propery which is in delhi so what is the procedure for transferring the amount of sale to his NRO A/c, he is not having any A/c in India. Can he deposite simple A/c Payee cheque to his NRO A/c …… Please Guide me
    With Regard
    Rahul singh Bisht

    • June 13, 2013 at 8:17 PM

      Hi Rahul,

      The answer to your query is; such sale proceeds of residential property can be credited to an NRO account only. This means you can very well get an A/c payee cheque deposited to the NRO account.

  • July 19, 2013 at 10:00 PM

    hi, thanks for the information.

    generally, what should i expect to pay an accountant for filling in these 2 forms?

  • August 14, 2013 at 9:31 AM

    very useful and complete information…..thanks

    • August 14, 2013 at 2:17 PM

      Thank you 🙂

  • August 26, 2013 at 9:58 PM

    I am helping my son pay for a flat he is buying in Goa. Can i as a resident indian deposit upto Rs 1000000/- into my son’s NRO account?

    • August 27, 2013 at 8:36 AM

      Yes! you can.

  • September 2, 2013 at 6:41 PM

    Have come across a recent RBI guidelines, that the ceiling for transfers has been reduced to USD 75k per FY…. Can you pls explain…

  • September 6, 2013 at 3:49 AM

    Once these 2 forms are filed and a transfer from NRO to NRE is executed, are there any formalities with income tax department later ? Does the Chartered Accountant when producing 15CB make sure all the taxes are paid via TDS or otherwise? Would there still be a possible inquiry from IT Department regarding the nature of NRO funds and tax status? Or the fact that 15CB is prepared by a CA , no such inquiry will occur from IT?
    Thanks in Advance,

    • September 6, 2013 at 12:04 PM

      Hi Anand,

      Once the CA has certified that all the required taxes has been paid with respect to the income that required to be remitted, he /she issue the certificate. Post that bank execute the process of remittance, but this doesn’t say that there won’t be any further scrutiny. IT dept at their own discretion may call you for any further clarification, so you need to ensure you have all the relevant proofs and evidence to prove the genuineness of such income and their respective tax payments.

  • September 9, 2013 at 12:40 AM

    Does a NRI [remitter] need to fill out 15CA & 15CB form if he remits funds from his NRE account to another NRI’s nre account. [ As a loan or gift or for any other reason but not for any real estate transaction in India.]
    Does a NRI need to fill out 15CA & 15CB form if he remits funds from his Indian NRE account
    to his [or another person] foreign bank account.
    With regards & Thanks in Advance

    • September 9, 2013 at 11:34 AM

      Hi Raghavan,

      There is no restriction on remitting funds from NRE account. So such 15CA & 15CB is not required here.

  • September 10, 2013 at 3:38 AM

    Thanks again for your info.

    • September 10, 2013 at 8:23 AM

      Most welcome Raghavan.

      • September 16, 2013 at 12:33 PM


        i need the information regarding issue of 15cb cetificate and filling the column in 15 ca related to fund transfor from NRO a/c to NRE a/c.
        my client is NRI he has NRO and NRE a/c in ICICI Bank.
        he sold the property for that no capital gain attaract.i compute the capital gain but loss on sale of the property.
        i want issue 15 cb certificate but few of the doubt.
        in 15cb which point is applicable for this case from (1 to 16 points) .
        please send any filed copies of 15cb and 15ca for reference it is very urgent.

        Thanks and regards

        Naveen reddy.P

        • September 19, 2013 at 10:57 PM

          Hi Naveen,

          In form 15CA, you can ignore point 9 (put NA), 11 (put NA), 6 & 7 as zero and 0% respectively, 12 (No, NA, NA), 14 (a) NO and in point 16 write transfer from transfer from NRO to NRE account.

          Hope this will help.

          • March 2, 2015 at 3:59 PM

            Dear Soubhagya,

            One of my NRI client sold his property in India and cash is in NRO account. He wants to transfer same to NRE account. Bank asking for 15 CB. There is capital gain in this transaction and he is willing to pay advance tax since no TDS in this case. Can I give 15 CB for the same and if yes can you assist in filling the same. In a similar case where there is no Tax you have given the answer field by field where in point no.16 to write Transfer from NRO to NRE. I just want clarification where to write the advance tax amount. I would be really thankful if you can give what to fill in each points of 15 CB.

            Thank You

          • March 4, 2015 at 10:59 AM

            Hi Vishnu,

            I assume. Money credited in NRO account will be post tax money. Now NRO account will have existing cash balance plus credits from property sale (post tax). Your client is willing to transfer money from NRO to NRE. This means, money is required to be remitted from the available balance in NRO to NRE, not a direct transfer of sale proceeds to NRE account.

            This will be simple case of transfer between NRO to NRE of the same person. In 15CA, it will be OTHER INCOME / OTHER (NOT IN THE NATURE OF INCOME) -Transfer between own accounts.

            Note: Tax deducted will be NIL (in 15CA/15CB). because tax is already paid before money being credited to NRO account.

        • October 14, 2013 at 10:12 PM

          Dear Naveen,

          I am looking for CA to help me to transfer funds from NRO FD’s to NRE account. Will you able to help me. I am ready to pay the fee for this.


  • October 14, 2013 at 10:17 PM

    Dear Sir,

    I have read in one of the blogs that as per CBDT notification 67/2013, 15CA/CB rules revised again.15CA/CB May NOT be required for NRO to NRE transfer. The updated rule will also be effective from October 1, 2013.

    1. As per the revised rule, Form 15CA/CB is applicable only if a person responsible for paying to a non-resident, any interest or salary or any other sum chargeable to tax under the provisions of the Act.

    It means, NO CA Certificate in Form 15CB and NO furnishing of Form 15CA to the Income Tax department for any payment or money transfer out of India that is NOT Taxable.

    As a result, Form 15CA/CB may not be required for the transfer from NRO to NRE or for outward remittance from NRO funds.

    you can follow the CBDT link below

    As an expert can you pease calrify above.


    • October 14, 2013 at 10:35 PM

      Hi Sangameshwar,

      I would like to bring your attention to the below line

      It means, NO CA Certificate in Form 15CB and NO furnishing of Form 15CA to the Income Tax department for any payment or money transfer out of India that is NOT Taxable.

      It talks about the money transfer i.e. not taxable, but fyi Interest on NRO FDs are taxable.

  • December 20, 2013 at 6:13 PM

    Dear Sir

    One onf my customer is holding NRE and NRO account with us. He is depositing some cheque as a interest earned from loan given to a company can he deposit the same in to his NRO account. PLease help

    • December 20, 2013 at 6:17 PM

      One of my customer want to transfer funds from his resident account to his outside india account. He is having only Business VISA and holding a Bank account with Metro Bank London . Please confirm is there any requirement of 15 CA and CB or not. Purpose of the fund transfer is Imigration

    • December 20, 2013 at 7:54 PM

      Hi Manvendra,

      Yes! of course he can do so. Such interest income in India by a non-resident can very well be deposited in his NRO account.

  • December 20, 2013 at 6:16 PM

    One of my customer want to transfer funds from his resident account to his outside india account. He is having only Business VISA and holding a Bank account with Metro Bank London . Please confirm is there any requirement of 15 CA and CB or not. Purpose of the fund transfer is Imigration

    • December 20, 2013 at 7:58 PM

      Hi Manvendra,

      Your client can do so through his NRE account. For fulling of the requirement of 15CA & 15CB you may write to us at We will assist you with the same.

  • December 23, 2013 at 5:23 PM

    Dear Sir

    Can you help me if any of NRI person given loan to some indian company can he take interest in his NRO account.

    • December 23, 2013 at 5:44 PM

      Yes! he can.

  • May 10, 2014 at 7:15 PM

    Dear Mr. Soubhagya Kumar Patra, Greetings.
    I, a resident Indian want to buy a flat from a PIO who is holding the property for more than 3 years although the same has not yet been registered in his name.The Builder and the Seller have signed the Agreement of Sale & the Agreement of Construction 7 years ago. Seller wants to repatriate the sale proceeds to UK. I understand that the buyer (me) should deduct the capital gains tax while paying the sale consideration to the seller. If the LTCG is more than 10 lakhs, would you be kind enough to let me know:-
    1. If I want to buy this property, who will be considered as Seller because the flat will be registered in my name by the Builder while the seller will be the Consenting Party and receiving the sale proceeds.
    2. What is the percentage of tax at source to be deducted (is it 20% or 22% or 22.6% taking into account surcharge and Educational cess etc.,)
    3.Is the TDS to be calculated from the indexed capital gains or the entire sale proceeds.
    4. How the TDS to be credited to IT Dept and if any forms to be filled in or Accounts to be opened.
    5. Should the TDS be paid for the part payment also, while signing the agreement or the full TDS can be paid just before the registration.
    6. If the Seller lands into trouble with the IT dept while repatriating funds outside, does the buyer will have any problem with IT Dept. even after deducting the TDS as above.

    Your kind assistance in this regard will solve a lot of problems as I am getting confused due to differing opinions on the net.

    • May 11, 2014 at 10:10 AM

      Hi Karambar,

      Find answers in sequence to your queries
      1. It’s the PIO who holds the title ownership since 7 years
      2. As per my experience in such TDS cases only 20% will be levied
      3. No indexation! You have to deduct 20% on the total value that you are going to buy
      4. Read this:
      5. Yes! This means before making any payment i.e. whether lump-sum or part payment
      6. If you have followed proper procedure then you won’t have any problem from ITD side

      This is very simple. You do not have to worry about it. Cheers!

  • May 12, 2014 at 7:56 AM

    Many thanks, dear Soubhagya Kumar. Much obliged.

    • May 13, 2014 at 12:24 AM

      You are most welcome Karambar.

  • May 21, 2014 at 12:12 AM

    Hi Soubhagya,

    I am an NRI and my PPF (opened while I was a Resident Indian) has matured. I have deposited the maturity proceeds in my NRO account and want to transfer the same to my NRE account. I understand that I need forms 15CA and 15CB for this purpose. However, since the PPF proceeds are not taxable, what part of the Form 15CA do I need to fill? Both parts say that it needs to be filled if the remittance is chargeable to tax. Thanks for your help.

    • May 21, 2014 at 7:36 PM

      Hi Anjali,

      Part A of Form No.15CA needs to be filled if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees. Basis the amount of remittance you can choose which is the pertinent form. In the places of tax rate and amount you can put 0% and Rs. 0.00 respectively.

  • June 2, 2014 at 5:47 PM

    This is in connection with acquisition of residential property by NRI ( Indian Citizen ) outside India through loan facility by Indian bank or financial Institution. Is form 15 CA and 15 CB required for remittance of such fund by bank. as they insist for such form

    • June 5, 2014 at 12:03 AM

      Hi Abhijeet,

      Yes it is required.

  • December 16, 2014 at 8:53 PM

    Dear Mr. Soubhagya Kumar, Greetings.
    I, an NRI gave an interest free loan and gift of Rs.50,00,000/- each (total one crore) to my resident son for purchase of a new flat. He had a small flat which he wanted to sell and buy a bigger one, but as no ready buyers were availabe, he took the loan and gift from me and bought a new flat for Rs. one crore. Now he has sold his old flat (within six months after buying a new flat) for Rs.50 lakhs and deposited it in a Capital gains Accounts in a nationalized bank. He now wants to return the loan amount of Rs.50 lakhs which I intend to credit to my NRO accounts.

    I under stand that My son need not pay capital gains tax for sale of his old flat as he bought a new one six months prior to purchase of the new flat.
    Should the above property transactions be reported to IT department by him and how?
    Does any certificate from a CA is required ?
    How can he recover the 1% TDS from the IT Dept. (His PAN No. has been used while crediting this 1% TDS)
    Is it OK for me to get the amount credited to my NRO account?

    Your expert comments will be highly appreciated.
    K.K. Badruddin

    • December 16, 2014 at 9:59 PM

      Hi Badruddin,

      Find answers in sequence to your queries;
      1. If entire gain (I believe it’s long term gain) amount is equal or less than new property price then no tax arise.
      2. Yes. By way of TDS followed by IT returns filing
      3. No
      4. Through filing of IT returns and take refund if any.
      5. Yes! it is ok

  • January 1, 2015 at 11:24 PM

    Dear Mr.Kumar… I have sent about Rs.50 Lacs to my NRE account towards purchase of property in India and the same is withdrawn by my POA holder towards purchase of the property but due to the dispute araised in the last minute I have now cancelled the purchase plan.. Now I need that fund to be deposited under NRE deposit which is untaxable.. In this case how can I file the Form 15 CA & 15 CB to transfer the funds again to my NRE account for avoiding DTAA…Kindly guide me

    • January 5, 2015 at 10:49 AM

      Hi Randeep,

      The challenge here is with bank. Bank remitting the fund would not do until they have proofs stating this money is not taxable or tax has already been paid. In such case you need to go with the procedure of 15CA/15CB to smoothen the remittance.

  • March 31, 2015 at 7:25 PM


    the money received in NRO account is net of taxes and the tranfer to NRE account is the net amount then in form 15CB is there a need to mention TDS rate?

    and will DTAA information needed to be filled even if the benefits are not to be claimed?

    thank you

    • April 4, 2015 at 10:36 PM

      Hi Ritesh,

      Mention TDS “NIL” or “Zero” in form 15CB. Not required to fill DTAA information.

  • June 16, 2015 at 10:29 PM


    My son is maintaining a NRO SB account with Bank of india., in Amritsar.

    His rental income in india from an apartment and interest from a pvt ltd company in india on account of his advance deposit for booking of a commercial property is directly credited to his NRO account after deduction of applicable TDS both by tenant company and company having his deposits.

    His ITR as on 31/3/2014 stands filed and assessed and order is in our hands. His ITR as on 31/3/2015 will be filed before due dates.

    Tax whichever is due is always paid and will be paid by before filing his ITR as on 31/3/2015.

    Now the question.

    He has a sum of Rs 4,00,000 standing to his SB account which he intends to remit through Banking channel.

    What are the formalities to be made by him as TAX is paid on such amount through TDS as explained above.

    There is no other receipt in his account.

    Whether form 15 CA and 15 CB is required or whether again some tax will be paid or deducted by CA or bank on this remittance of Rs 4,00,000/- If yes., what is the rate of taxation in india on such remittances on which income tax already .


    What are the charges generally charged by CAs for issue of form 15 CB or 15 CA.,

    I shall appreciate your response in this matter.

    • June 17, 2015 at 11:00 AM

      Hi Lajpat,

      Since you son wish to remit fund in current financial year, in that case previous year’s tax due has to be cleared and current year’s estimated income needs to be checked. If there is any tax liabilities, that has to be paid. Basis this Form 15CA/15CB will be filed/issued.

      For the purpose of specific service you may write to us at

  • June 16, 2015 at 10:52 PM

    My query is digital signature of the individual is mandatory to file 15 ca for repatriation of money from nro account?

    • June 17, 2015 at 10:34 AM

      Hi Gowrishankaran,

      As of now it is not mandatory! Once 15CA is filed, you can download the copy, print, sign & send/submit to bank.


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