Company in USA with INR income - how to repatriate income to USA?

- You can repatriate funds from India to USA after Deduction of TDS and filing of Form 15CA and 15CB. Also you need to file ITR for income earned in India.

Hello,

you have mentioned that your operation in india is sole properietorship so i assume that the business done and revenue generated from india is not in the name of US Company but in individual name.

In such case said income earned in india shall be subject to tax in india as per your normal tax slab and to remit the said fund in USA individual account you can do the same LRS scheme of RBI to the extent of $2,50,000/- annually.

To complete formalities you can file form 15CA & 15CB from local chartered accountant and repatriate fund from here as your Saving after making tax payment due on the said amount in india as per your normal slab account.

Alternative structuring can also be done once i have better idea of what you do as company and your legal structure in USA  as well as in India. 

Dear Sir,

In order to remit funds from the domestic bank account, you would need to submit two documents: Form 15 CA and Form 15 CB. The purpose of both these documents is to ensure that taxes are collected on the funds before they are remitted abroad as it becomes difficult to recover taxes at a later stage. Both these forms consist of more or less the same information. The only difference is that Form 15CA is an undertaking by the NRI to remit funds while Form 15 CB is a certification of the information by a chartered accountant. 

I may assist you in filing of Form15CA and CB. No other scrutiny point. My email is aroravivek1982@gmail

Based upon details filled in form the government will scrutinise the trasanction and confirm whether further detsiling need to be done or not.

If you want can help you with the form 15CA / 15CB filing since its routine process for us.

Dear Sir,

We may help you in filing forms.

As such, no any other issues like extra scrutiny from govt.

Hi

Since you are working in India under sole proprietorship, you need to file income tax return and pay taxes before repatriation of money.

For repatriation, you need to file Form 15CA and Form 15CB.

We may help you with the filings.

No such scrutiny issues.

Once the filings have been made, such Forms need to be submitted to the Bank for remittance of money. It's not a time consuming job.

Once submitted 15CA / 15Cb automatically generate acknowledgement and immediate on same day you can transfer fund by submitting it to the bankers

Once submitted 15CA / 15Cb automatically generate acknowledgement and immediate on same day you can transfer fund by submitting it to the bankers

Once you submit form 15Ca / 15Cb it will immediately generate acknowledgement and same day you can submit it to bankers for the fund processing no need to wait for any thing

Dear Sir,

Hope you are doing well !!

To start the repatriation process, the first step is to get a certificate from a Chartered Accountant (CA) in India.

The certificate required from a chartered account, is actually issued in a form that is called 'Form 15CB'. This form can be downloaded by simply logging on to the Indian government tax website, and downloading it. The website page to access the form is: https://www.tin-nsdl.com/download/Form15CB.pdf

Once you have the completed CA certificate on 'Form 15CB' the next step involves filling a Form called Form 15CA.This is a form that is filed online with the tax department.

A self-declaration in Form 15CA are required to be furnished to the bank, confirming that applicable taxes have been deducted and deposited into the government treasury.

Thanks & Regards,

Payal Chhajed

We may assist you in filing the above forms.

No such scrutiny issues in repatriation of funds legally.

Take a printout of the filled undertaking form 15CA showing the system generated acknowledgement number and sign it.

The final step, involves taking the signed undertaking along with the CA certificate on Form 15CB, to the bank where you have your account. Your bank will transfer your money abroad. 

No further permission is required by banks as RBI has authorized dealers to submit funds once the above mentioned documents are provided.

- After submitting forms, you need to submit Forms to your bank and then proceed for the payment.

If you have paid all the taxes applicable in India on such India then you can easily transfer such amount to US.

If the amount is less than 2.5 lakh dollar during a financial year you also don't need to take any permission from RBI just transfer the amount from one current account to another current account. 

Since your remittance won't require RBI's approval you don't need to fill form 15CA/15CB.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Hi

File ITR for income earned in India and repatriate funds ,file Form 15CA and 15 CB for the same.

Submit it in bank and and no need to wait further.

We may assist you for the same.

Any person making a payment to a Non Resident will have to deduct tax at source u/s 195 of the Income Tax Act, irrespective of the amount involved. This will become a laborious and complicated exercise for you. Instead, you can have a Permanent Establishment in India and operate it as your branch. Then your branch will be able taxable in India in respect of incomes earned in India. You can then repatriate your income to US. 

Usage of 15CA and 15CB certificates/declarations may be good for occasional uses but not convenient for regular business operations. You need to weigh the cost and benefit of doing business in this form.