The purpose of specifying codes in Forms 15CA and 15CB is to ensure proper tax compliance for cross-border transactions from India. These codes categorize the nature of the payments made to non-residents, allowing the Income Tax Department to assess tax liability and monitor foreign transactions effectively. The requirement for these codes stems from the need to prevent tax evasion and ensure that any taxes due on these transactions are correctly calculated and paid.
Form 15CA is a declaration by the remitter that tax has been paid on the payments that are being remitted to a non-resident. It requires detailed information about the payment, recipient, and nature of the transaction, for which specific codes are used to categorize the payment type.
Form 15CB is a certification by a Chartered Accountant that the provisions of the Income Tax Act and the Double Tax Avoidance Agreement (DTAA) have been complied with in making the payment to the non-resident. This form supports the declarations made in Form 15CA with a detailed analysis of the transaction, including the nature of the remittance and the tax liability.
The use of specific codes facilitates the standardized reporting and assessment of transactions, making it easier for both the remitters and the tax authorities to process and verify the compliance of these cross-border payments with Indian tax laws. This system also aids in the efficient handling of requests by banks, which play a crucial role in processing these international transactions, ensuring that they are in compliance with regulatory requirements.
The consolidated list covering both "P" (Payment Purposes) and "S" (Receipt Purposes) codes in a single table is as under
| Main Code | Subcode | Description |
|---|---|---|
| 00 Capital Account | ||
| 00 | P0001 | Repatriation of Indian investment abroad in equity |
| 00 | P0002 | Repatriation of Indian investment abroad in debt securities |
| 00 | P0003 | Repatriation of Indian investment abroad in branches |
| 00 | P0004 | Repatriation of Indian investment abroad in subsidiaries and associates |
| 00 | P0005 | Repatriation of Indian investment abroad in real estate |
| 00 | P0006 | Foreign direct investment in India in equity |
| 00 | P0007 | Foreign direct investment in India in debt securities |
| 00 | P0008 | Foreign direct investment in India in real estate |
| 00 | P0009 | Foreign portfolio investment in India in equity shares |
| 00 | P0010 | Foreign portfolio investment in India in debt securities |
| 00 | P0011 | Repayment of loans extended to Non-Residents |
| 00 | P0012 | Loans from Non-Residents to India |
| 00 | P0013 | Receipts o/a Non-Resident deposits |
| 00 | P0015 | Loans & overdrafts by ADs on their own account |
| 00 | P0016 | Purchase of a foreign currency against another foreign currency |
| 00 | P0017 | Sale of intangible assets like patents, copyrights |
| 00 | P0018 | Other capital receipts not included elsewhere |
| 01 Exports (of Goods) | ||
| 01 | P0101 | Value of export bills negotiated |
| 01 | P0102 | Realisation of export bills |
| 01 | P0103 | Advance receipts against export contracts |
| 01 | P0104 | Receipts against export of goods not covered by the GR |
| 01 | P0105 | Export bills sent on collection |
| 01 | P0106 | Conversion of overdue export bills |
| 01 | P0107 | Realisation of NPD export bills |
| 02 Transportation | ||
| 02 | P0201 | Receipts of surplus freight/passenger fare by Indian shipping companies |
| 02 | P0202 | Purchases by Foreign shipping companies in India |
| 02 | P0205 | Operational leasing (with crew) - Shipping |
| 02 | P0207 | Receipts by Indian Airlines companies abroad |
| 02 | P0208 | Receipt by Foreign Airlines in India |
| 02 | P0211 | Operational leasing (with crew) - Airlines |
| 02 | P0213 | Receipts on account of other transportation services |
| 03 Travel | ||
| 03 | P0301 | Purchases towards travel |
| 03 | P0308 | FC surrendered by returning Indian tourists |
| 04 Communication Service | ||
| 04 | P0401 | Postal services |
| 04 | P0402 | Courier services |
| 04 | P0403 | Telecommunication services |
| 04 | P0404 | Satellite services |
| 05 Construction Service | ||
| 05 | P0501 | Receipts for construction services projects in India |
| 06 Insurance Service | ||
| 06 | P0601 | Receipts of life insurance premium |
| 06 | P0602 | Receipts of freight insurance |
| 06 | P0603 | Other general insurance premium |
| 06 | P0604 | Reinsurance premium |
| 06 | P0605 | Auxiliary services (commission on insurance) |
| 06 | P0606 | Settlement of claims |
| 07 Financial Services | ||
| 07 | P0701 | Financial intermediation except investment banking |
| 07 | P0702 | Investment banking services |
| 07 | P0703 | Auxiliary financial services |
| 08 Computer & Information Services | ||
| 08 | P0801 | Hardware consultancy |
| 08 | P0802 | Software implementation/consultancy |
| 08 | P0803 | Data base, data processing charges |
| 08 | P0804 | Repair and maintenance of computer and software |
| 08 | P0805 | News agency services |
| 08 | P0806 | Other information services |
| 09 Royalties & License Fees | ||
| 09 | P0901 | Franchises services |
| 09 | P0902 | Payment for use, through licensing arrangements |
| 10 Other Business Services | ||
| 10 | P1001 | Legal services |
| 10 | P1002 | Accounting, auditing, bookkeeping, and tax consulting services |
| 10 | P1003 | Business and management consultancy and public relations services |
| 10 | P1004 | Advertising, trade fair, market research, and public opinion polling services |
| 10 | P1005 | Research & Development services |
| 10 | P1006 | Architectural, engineering, and other technical services |
| 10 | P1007 | Agricultural, mining, and on-site processing services |
| 10 | P1008 | Inward remittance for maintenance of offices in India |
| 10 | P1009 | Distribution services |
| 10 | P1010 | Environmental services |
| 10 | P1011 | Other services not included elsewhere |
| 11 Personal, Cultural & Recreational services | ||
| 11 | P1101 | Audio-visual and related services |
| 11 | P1102 | Personal, cultural services such as those related to museums, libraries, archives, and sporting activities |
| 12 Government, not included elsewhere (G.n.i.e.) | ||
| 12 | P1201 | Maintenance of foreign embassies in India |
| 12 | P1203 | Maintenance of international institutions in India |
| 13 Transfers | ||
| 13 | P1301 | Inward remittance from Indians abroad |
| 13 | P1302 | Personal gifts and donations |
| 13 | P1303 | Donations to religious and charitable institutions abroad |
| 13 | P1304 | Grants and donations to other governments and charitable institutions |
| 13 | P1306 | Remittance towards payment / refund of taxes |
| 14 Income | ||
| 14 | P1401 | Compensation of employees |
| 14 | P1402 | Remittance towards interest on Non-Resident deposits |
| 14 | P1403 | Remittance towards interest on loans from Non-Residents |
| 14 | P1404 | Remittance of interest on debt securities |
| 14 | P1405 | Remittance towards interest payment by ADs on their own account |
| 14 | P1406 | Repatriation of profits |
| 14 | P1407 | Payment/repatriation of dividends |
| 15 Others | ||
| 15 | P1501 | Refunds / rebates / reductions on account of imports |
| 15 | P1502 | Reversal of wrong entries |
| 15 | P1503 | Refunds of amounts remitted for non-imports |
| 15 | P1504 | Short shipment |
| 15 | P1505 | Excess remittance made |
| 15 | P1506 | Payment of fees to international institutions |
| 15 | P1507 | Payment for miscellaneous purposes not included elsewhere |
| S00 Secondary Income | ||
| S00 | S0001 | Family maintenance and savings |
| S00 | S0002 | Family maintenance |
| S00 | S0004 | Personal gifts and donations |
| S00 | S0005 | Grants and donations to governments and charitable institutions |
| S00 | S0006 | Alimony |
| S01 Primary Income | ||
| S01 | S0101 | Compensation of employees |
| S01 | S0102 | Investment income in India |
| S01 | S0103 | Other primary income |
| S02 Secondary Income (cont'd) | ||
| S02 | S0202 | Inheritance |
| S02 | S0203 | Settlements |
| S03 Financial Account | ||
| S03 | S0301 | Direct investment in India |
| S03 | S0302 | Portfolio investment in India |
| S03 | S0303 | Financial derivatives |
| S03 | S0304 | Other investment in India |
| S03 | S0305 | Reserve assets |
| S04 Capital Account | ||
| S04 | S0401 | Capital transfers |
| S04 | S0402 | Acquisition/disposal of non-produced, non-financial assets |
This comprehensive list integrates both "P" and "S" series codes, facilitating a unified reference for transaction reporting.
