Remittance to foreign by family from india, is it required to file form 15ca and 15cb ?
what is the process?
is any tds liability regarding this remittance ??
According to the provisions of IT Act, It is clearly stated that form 15ca & 15cb needs to be filled only if the remittance is chargeable to tax in India. Therefore on the first blush it appears crystal clear that Form 15CA is not required to be filled if the remittance/ payment to non-resident are not chargeable to tax.
Procedure to send money abroad from India
1.Contact bank where you maintain your bank accounts. This should not be a bank where you have recently opened a bank account but a bank account that has been operated for at least one year. In the event the bank account is less than a year old, your previous bank account statements or copies of income tax return documents may be required by the bank you deal with.
2.One of the documents the bank will require is called ‘Application cum declaration form A2’
your bank can probably provide you with the form and offer help in completing the form.
3.The purpose of remittance of funds is accepted by banks normally by your self-declaration.
4.Money can be sent by wire transfer or bank draft.
Kindly note: There is a restriction on remittance to some countries like Bhutan, Nepal, Mauritius, Pakistan and certain other countries that are enlisted by the Government from time to time
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