banner_ad

Regarding outward remittances

422 views 11 replies
User Avatar

Income & Corporate Tax Lawyer
383 Points Posted on 06 January 2024
I have to send money to a Dubai Based company for hiring a premises on rent.
bank is asking particular purpose code.
I have the list of RBI.. but still I'm not able to fetch the same.
can u please help. Will be highly obliged.
5 Reply Share Follow
On 06 January 2024 at 15:14 Report
Replies (11)
User Avatar

Profession Business
28196 Points Posted on 06 January 2024
Pls upload the details. get hold of the beneficiary details.
44 Reply
On 06 January 2024 at 16:42
User Avatar

Income & Corporate Tax Lawyer
383 Points Posted on 06 January 2024
What type of details.
We have a invoice.. we want to pay regarding the same.
Bank is asking the Purpose code.
So I wanna whats the exact purpose code to take a premises on rent in Dubai Damac.
5 Reply
On 06 January 2024 at 17:33
User Avatar

Profession Business
28196 Points Posted on 06 January 2024
Pay into beneficiary account.
44 Reply
On 06 January 2024 at 19:50
User Avatar

Accountant
1227 Points Posted on 08 January 2024
Why are you sending it to them? are you giving it as a loan to them or is it your constant and you are paying rent?
5 Reply
On 08 January 2024 at 16:45
User Avatar

Profession Business
28196 Points Posted on 08 January 2024
Someone must try to understand.
44 Reply
On 08 January 2024 at 18:09
User Avatar

Accountant
1227 Points Posted on 08 January 2024
... is it your company* and you are paying rent?
5 Reply
On 08 January 2024 at 22:53
User Avatar

Profession Business
28196 Points Posted on 08 January 2024
Yes a company certainly
44 Reply
On 08 January 2024 at 23:14
User Avatar

Income & Corporate Tax Lawyer
383 Points Posted on 08 January 2024
If you really know.. about 195 IT thn suggest.. otherwise please
5 Reply
On 08 January 2024 at 23:26
User Avatar

Accountant
1227 Points Posted on 08 January 2024
195 is the tds on foreign payment. but there are certain purpose codes provided by RBI and it is our duty to select them properly.

there is no rental expense mentioned in the RBI purpose codes. hence, wanting to know the exact nature of transaction.
5 Reply
On 08 January 2024 at 23:50
User Avatar

Income & Corporate Tax Lawyer
383 Points Posted on 08 January 2024
Yeah.. I have to file 15 CA CB.
And I also have to provide purpose code to bank.
Now.. nature of payment as Told.. I Had taken premises there in Dubai... and I have to pay rent on mothly basis.
This money is monthly rent for Dec period... from my company account.
5 Reply
On 08 January 2024 at 23:55
User Avatar

Accountant
1227 Points Posted on 10 January 2024
Please update once you find a solution to this
5 Reply
On 10 January 2024 at 00:50


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details