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In accordance with sub-rule (3) of Rule 37BB,
Form 15CA and Form 15CB are not required to be furnished in case of following transactions:
Remittance is made by an individual and it does not require prior approval of the Reserve Bank of India as per the provisions of section 5 of the Foreign Exchange Management Act, 1999 (42 of 1999), read with Schedule III to the Foreign Exchange (Current Account Transaction) Rules, 2000; or
Remittance is of the nature specified as follows:
Sl. No.
Purpose code as per RBI Nature of payment
1 S0001
Indian investment abroad – in equity capital (shares)
2 S0002
Indian investment abroad – in debt securities
3 S0003
Indian investment abroad – in branches and wholly owned subsidiaries
4 S0004
Indian investment abroad – in subsidiaries and associates
5 S0005
Indian investment abroad – in real estate
6 S0011
Loans extended to Non-Residents
7 S0101
Advance payment against imports
8 S0102
Payment towards imports – settlement of invoice
9 S0103
Imports by diplomatic missions
10 S0104
Intermediary trade
11 S0190
Imports below Rs.5,00,000 – (For use by ECD offices)
12 SO202
Payment for operating expenses of Indian shipping companies operating abroad
13 SO208
Operating expenses of Indian Airlines companies operating abroad
14 S0212
Booking of passages abroad – Airlines companies
15 S0301
Remittance towards business travel
16 S0302
Travel under basic travel quota (BTQ)
17 S0303
Travel for pilgrimage
18 S0304
Travel for medical treatment
19 S0305
Travel for education (including fees, hostel expenses, etc.)
20 S0401
Postal services
21 S0501
Construction of projects abroad by Indian companies including import of goods at project site
22 S0602
Freight insurance – relating to import and export of goods
23 S1011
Payments for maintenance of offices abroad
24 S1201
Maintenance of Indian embassies abroad
25 S1202
Remittances by foreign embassies in India
26 S1301
Remittance by non-residents towards family maintenance and savings
27 S1302
Remittance towards personal gifts and donations
28 S1303
Remittance towards donations to religious and charitable institutions abroad
29 S1304
Remittance towards grants and donations to other Governments and charitable institutions established by the Governments
30 S1305
Contributions or donations by the Government to international institutions
31 S1306
Remittance towards payment or refund of taxes
32 S1501
Refunds or rebates or reduction in invoice value on account of exports
33 S1503
Payments by residents for international bidding. |
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