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An Overview of 15CA-15CB Form Filing
"15CA" and "15CB" are forms used in India for reporting foreign remittances to the Reserve Bank of India (RBI).
This form is used for reporting remittances made for specific purposes that are eligible for exemption from the requirement to obtain prior approval from the RBI. Some examples of these purposes include remittances for travel, education, medical treatment, and maintenance of close relatives living abroad.
This form is used for reporting remittances that are not eligible for exemption and require prior approval from the RBI. This form is used to provide information about the remittance, such as the nature of the transaction, the amount being remitted, and the purpose of the remittance.
Both forms are mandatory for reporting foreign remittances to the RBI and must be filed online through the RBI's e-filing portal. Failure to file the forms or filing incorrect information can result in penalties and other legal consequences.
In summary, 15CA and 15CB are forms used in India for reporting foreign remittances to the RBI and are used to determine whether prior approval from the RBI is required for the remittance.
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