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Certificate for Repatriation or transfer of Funds

Certificate for Repatriation or transfer of Funds:

While effecting transfer of funds outside India, the government is interested in knowing/ ensuring that the applicable income tax on the income component of such remittance is deposited prior to making such remittances. Towards this, there is a requirement on a person making the remittance to obtain a certificate from a CA stating that applicable taxes are remitted and produce such certificate before the Bank. The CA Certificate is issued in form 15CB and the remitter is required to submit details of such certificate in form 15 CA and produce the copies of form 15CB and form 15CA to the bank effecting the remittance. This requirement is applicable even if remittance is to a person's own account held abroad.

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