Foreign Remittance

[CA Rachit Agarwal]

I want to know whether every remittance would be accompanies by Form 15CA and 15CB?

or requirements of Form 15CA and 15CB will only be required whether there are deduction of TDS pursuant to Section 195?

AI Summary

Are Form 15CA and 15CB needed for all foreign remittances or only when TDS under Section 195 applies? A user inquired whether Form 15CA and 15CB are necessary for all foreign remittances or only when Tax Deducted at Source (TDS) under Section 195 applies. The response clarified that legally, these forms are required only if the recipient's income is taxable. However, in practice, banks often demand these forms for all remittances, including those sent to students for educational or other expenses, regardless of tax liability.