Foreign remittance compliance in India involves adherence to FEMA regulations, RBI reporting standards, and Income Tax provisions for overseas payments. With the introduction of Form 145 and Form 146, remittance reporting has become more digital and structured. Correct purpose code selection, tax documentation, and TCS compliance are critical to avoid delays, penalties, and regulatory scrutiny.
From April 1, 2026, Form 15CA is replaced by Form 145, changing how Indians send money abroad under new compliance rules. Here’s how Rs 5 lakh and Rs 10 lakh limits work, and what 20% TCS means for your overseas…
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