India's tax compliance for international remittances just got stricter. The Income Tax Department has replaced Forms 15CA and 15CB with new Forms 145 and 146, effective 2026. Form 145 is a self-declaration capturing transaction details, recipient information, and applicable TDS rates. Form 146 is a Chartered Accountant certificate confirming taxability status and correct TDS rates. These forms are mandatory for anyone sending money abroad to NRIs, foreign entities, or making taxable payments like royalties, consultancy fees, or commissions. Banks and financial institutions will require these documents before processing international transfers. The changes aim to streamline disclosures, increase transparency, and improve tax compliance.
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