Overseas Remittance (Form 145 & Form 146) (erstwhile Form 15CA & 15CB)

With increasing global business transactions, cross-border payments and regulatory oversight it has become essential to ensure proper tax compliance. Under the Income Tax framework, this responsibility is not limited to businesses alone, Non-Resident Indians (NRIs) making outbound remittances from India are also required to comply with these provisions. Whether an NRI is transferring funds for investment, family maintenance, property purchase or other purposes, the taxability of such remittances must be evaluated and reported appropriately.

In this context, Forms 145 and 146 (erstwhile Forms 15CA and 15CB) play a crucial role in ensuring that any applicable taxes on such remittances are correctly assessed, reported, and where required, deducted before the funds are sent abroad.