Form 145 & Form 146 Assistance (Earlier Form 15ca & 15cb)

When money is being remitted from India to a person or entity outside India, certain tax and reporting requirements may apply. Form 145 and Form 146 are used in the process of reporting and certifying specified foreign remittances under the current framework. These forms have replaced the earlier Form 15CA and Form 15CB.

The applicable form and compliance requirements depend on the nature of the remittance, its taxability in India, the amount involved and other conditions prescribed under the relevant tax provisions.

For NRO to NRE transfer, a non-resident should have a NRO and NRE account in India for transferring money from NRO to NRE or taking money out of India to another bank account.

What is the purpose of Form 145?

Through Form 145, the person responsible for making payment to a non-resident provides information relating to the foreign remittance. Form 145 contains information like remitter’s and recipient’s details, remittance amount, nature and purpose of remittance, applicable tax provisions, TDS details, and other prescribed information, wherever relevant.

It is the remitter’s declaration relating to a foreign remittance and is furnished by the person making the payment or remittance outside India where the applicable tax reporting requirements arise.

What is Form 146?

Form 146 is a certificate issued by a Chartered Accountant of India relating to specified foreign remittances. Where CA certification is required, the certificate provides relevant details regarding the nature of the payment, taxability, applicable withholding tax and other prescribed information.

Depending on the transaction, the certificate may also involve reporting of the applicable Tax Residency Certificate (TRC) details and UDIN.

Form 145 vs Form 146

Form 145	Form 146
Remitter’s declaration	CA certificate
Furnished by the remitter	Prepared/certified by a Chartered Accountant
Contains details of the foreign remittance and applicable tax information	Provides certification and tax-related details for the remittance
Applicable where prescribed under the relevant provisions	Required where CA certification is applicable

Why and When Do We Need Form 145 and Form 146 while Repatriation of Funds from India?

When non-residents want to repatriate their funds out of savings or income in India, the applicable tax and reporting requirements depend on the nature of the funds, taxability, amount and other conditions prescribed under the relevant provisions.

Not every foreign remittance automatically requires a CA certificate. Therefore, the transaction should be reviewed before deciding which form or certification is applicable.

Are you planning to sell a property in India?

How can we assist you?

If you are planning to remit funds out of India, we can assist you in understanding the applicable tax, withholding and documentation requirements and guide you through the process.

If you are concerned about how to file Form 145, we can assist with the applicable filing requirements. Where Form 146 is applicable, the relevant information and documents are reviewed by the Chartered Accountant before the certificate is prepared.

For remitting funds from India with different sources of funds, we first understand the case and provide a list of the details required for the applicable Form 145 or Form 146 process.

How Much Time Does the Issue of These Certificates Involve?

Time involves issuing these certificates depends on how fast the required information is provided to us. We have issued Form 145 and Form 146 within a day as well. The time required depends on the nature of the transaction, applicable requirements and completeness of the supporting documents.

NRI CA Services provides Form 145 & Form 146 Assistance in India for individuals, businesses and NRIs making eligible foreign remittances. Assistance can include reviewing the nature of the payment, determining applicable tax requirements, reviewing supporting documents, preparing the required declaration or CA certificate and guiding the remitter through the applicable filing and compliance process.