15CA-15CB Purpose Codes for Forex Transactions: Complete RBI Purpose Code List
A purpose code is a code issued by the Reserve Bank of India (RBI) to classify the nature of every foreign-currency transaction. Banks and authorised dealers must report each cross-border payment against the correct purpose code, and the same codes are used while filing Form 15CA and Form 15CB for foreign remittances. This guide explains what purpose codes are and gives the complete RBI purpose-code list used for reporting forex transactions.
What is a purpose code and why it matters for 15CA-15CB
A purpose code helps regulators identify the exact nature of a cross-border transaction — whether it is an import payment, an investment, a travel remittance, royalty, interest, or a transfer. It is mandatory for any cross-border payment from India. When you remit money abroad and file Form 15CA (and Form 15CB certified by a Chartered Accountant, where required), you must select the purpose code that correctly describes the remittance, so the transaction is reported accurately to the RBI and the Income Tax Department.
Complete RBI purpose code list for forex transactions
| Group | Purpose Code | Description |
|---|---|---|
| Capital Account | S0001 | Indian investment abroad – in equity capital (shares) |
| Capital Account | S0002 | Indian investment abroad – in debt securities |
| Capital Account | S0003 | Indian investment abroad – in branches |
| Capital Account | S0004 | Indian investment abroad – in subsidiaries and associates |
| Capital Account | S0005 | Indian investment abroad – in real estate |
| Capital Account | S0006 | Repatriation of FDI in India – in equity shares |
| Capital Account | S0007 | Repatriation of FDI in India – in debt securities |
| Capital Account | S0008 | Repatriation of FDI in India – in real estate |
| Capital Account | S0009 | Repatriation of Foreign Portfolio Investment – in equity shares |
| Capital Account | S0010 | Repatriation of Foreign Portfolio Investment – in debt securities |
| Capital Account | S0011 | Loans extended to Non-Residents |
| Capital Account | S0012 | Repayment of long & medium-term loans from Non-Residents |
| Capital Account | S0013 | Repayment of short-term loans from Non-Residents |
| Capital Account | S0014 | Repatriation of Non-Resident Deposits (FCNRB/NRE etc.) |
| Capital Account | S0015 | Repayment of loans & overdrafts taken by ADs on own account |
| Capital Account | S0016 | Sale of a foreign currency against another foreign currency |
| Capital Account | S0017 | Purchase of intangible assets (patents, copyrights, trademarks) |
| Capital Account | S0018 | Other capital payments not included elsewhere |
| Imports | S0101 | Advance payment against imports |
| Imports | S0102 | Payment towards imports – settlement of invoice |
| Imports | S0103 | Imports by diplomatic missions |
| Imports | S0104 | Intermediary trade |
| Imports | S0190 | Imports below Rs. 5,00,000 (for use by ECD offices) |
| Transportation | S0201 | Surplus freight/passenger fare by foreign shipping companies in India |
| Transportation | S0202 | Operating expenses of Indian shipping companies abroad |
| Transportation | S0203 | Freight on imports – shipping companies |
| Transportation | S0204 | Freight on exports – shipping companies |
| Transportation | S0205 | Operational leasing (with crew) – shipping companies |
| Transportation | S0206 | Booking of passages abroad – shipping companies |
| Transportation | S0207 | Surplus freight/passenger fare by foreign airlines in India |
| Transportation | S0208 | Operating expenses of Indian airlines abroad |
| Transportation | S0209 | Freight on imports – airlines companies |
| Transportation | S0210 | Freight on exports – airlines companies |
| Transportation | S0211 | Operational leasing (with crew) – airlines companies |
| Transportation | S0212 | Booking of passages abroad – airlines companies |
| Transportation | S0213 | Stevedoring, demurrage, port handling charges etc. |
| Travel | S0301 | Remittance towards business travel |
| Travel | S0302 | Travel under basic travel quota (BTQ) |
| Travel | S0303 | Travel for pilgrimage |
| Travel | S0304 | Travel for medical treatment |
| Travel | S0305 | Travel for education (fees, hostel expenses etc.) |
| Travel | S0306 | Other travel (international credit cards) |
| Communication Service | S0401 | Postal services |
| Communication Service | S0402 | Courier services |
| Communication Service | S0403 | Telecommunication services |
| Communication Service | S0404 | Satellite services |
| Construction Service | S0501 | Construction of projects abroad by Indian companies |
| Construction Service | S0502 | Cost of construction of projects by foreign companies in India |
| Insurance Service | S0601 | Life insurance premium |
| Insurance Service | S0602 | Freight insurance – import & export of goods |
| Insurance Service | S0603 | Other general insurance premium |
| Insurance Service | S0604 | Reinsurance premium |
| Insurance Service | S0605 | Auxiliary services (commission on insurance) |
| Insurance Service | S0606 | Settlement of claims |
| Financial Services | S0701 | Financial intermediation except investment banking (bank/LC charges etc.) |
| Financial Services | S0702 | Investment banking – brokerage, underwriting commission etc. |
| Financial Services | S0703 | Auxiliary services – custodial, depository, regulatory fees etc. |
| Computer & Information | S0801 | Hardware consultancy |
| Computer & Information | S0802 | Software implementation (other than SOFTEX) |
| Computer & Information | S0803 | Database, data processing charges |
| Computer & Information | S0804 | Repair and maintenance of computer and software |
| Computer & Information | S0805 | News agency services |
| Computer & Information | S0806 | Other information services – subscriptions to newspapers, periodicals |
| Royalties & License Fees | S0901 | Franchise services – patents, copyrights, trademarks, franchises |
| Royalties & License Fees | S0902 | Licensing of produced originals/prototypes (manuscripts, films) |
| Other Business Services | S1001 | Merchanting services – net payments |
| Other Business Services | S1002 | Trade-related services – commission on exports/imports |
| Other Business Services | S1003 | Operational leasing (without crew), including charter hire |
| Other Business Services | S1004 | Legal services |
| Other Business Services | S1005 | Accounting, auditing, bookkeeping and tax consulting services |
| Other Business Services | S1006 | Business and management consultancy and PR services |
| Other Business Services | S1007 | Advertising, trade fair, market research services |
| Other Business Services | S1008 | Research & development services |
| Other Business Services | S1009 | Architectural, engineering and other technical services |
| Other Business Services | S1010 | Agricultural, mining and on-site processing services |
| Other Business Services | S1011 | Payments for maintenance of offices abroad |
| Other Business Services | S1012 | Other services not included elsewhere |
| Personal, Cultural & Recreational | S1101 | Audio-visual and related services (film production, actor/director fees) |
| Personal, Cultural & Recreational | S1102 | Personal, cultural services (museums, libraries, correspondence courses) |
| Government n.i.e. | S1201 | Maintenance of Indian embassies abroad |
| Government n.i.e. | S1202 | Remittances by foreign embassies in India |
| Transfers | S1301 | Family maintenance and savings by non-residents |
| Transfers | S1302 | Personal gifts and donations |
| Transfers | S1303 | Donations to religious and charitable institutions abroad |
| Transfers | S1304 | Grants and donations to other governments/charitable institutions |
| Transfers | S1305 | Contributions/donations by Government to international institutions |
| Transfers | S1306 | Payment/refund of taxes |
| Income | S1401 | Compensation of employees |
| Income | S1402 | Interest on Non-Resident deposits (FCNRB/NRE/NRNRD/NRSR) |
| Income | S1403 | Interest on loans from Non-Residents (ST/MT/LT loans) |
| Income | S1404 | Interest on debt securities – debentures/bonds/FRNs |
| Income | S1405 | Interest payment by ADs on own account (VOSTRO/NOSTRO) |
| Income | S1406 | Repatriation of profits |
| Income | S1407 | Payment/repatriation of dividends |
| Others | S1501 | Refunds/rebates/reduction in invoice value on exports |
| Others | S1502 | Reversal of wrong entries, refunds of non-export remittances |
| Others | S1503 | Payments by residents for international bidding |
| Others | S1590 | Outward remittances below Rs. 5,00,000 (for use by ECD offices) |
How purpose codes are used in Form 15CA and 15CB
When remitting funds abroad, the remitter fills Form 15CA online, and for taxable remittances above the prescribed limit, a Chartered Accountant issues Form 15CB certifying the nature of the remittance and the applicable tax. The purpose code selected must match the actual nature of the transaction from the list above. Choosing the correct purpose code ensures the remittance is reported correctly to the RBI and helps avoid queries or delays at the authorised dealer bank.
When are Form 15CA and Form 15CB required?
The requirement is governed by Rule 37BB of the Income-tax Rules. In broad terms:
- Payment not chargeable to tax: If the sum is not taxable in India, only the relevant part of Form 15CA may be needed, and no CA certificate is required.
- Aggregate up to Rs 5 lakh in a financial year: Only Part A of Form 15CA is required, regardless of taxability.
- Above Rs 5 lakh and taxable: Part C of Form 15CA is filed along with a Form 15CB certificate from a chartered accountant.
- Above Rs 5 lakh but covered by an Assessing Officer order/certificate (under Section 195(2)/195(3)/197): Part B of Form 15CA is used.
- Specified list of payments: Rule 37BB lists categories (such as certain imports and specified personal remittances) that are exempt from the 15CA/15CB process entirely.
These thresholds and the specified list are the ones commonly applied in 2026, but always verify current limits on the income-tax portal, as rules are updated from time to time.
The four parts of Form 15CA
Form 15CA is split into four parts, and only one applies to a given remittance:
- Part A — Where the remittance (or aggregate in the year) is up to Rs 5 lakh, whether or not it is taxable.
- Part B — Where the amount exceeds Rs 5 lakh and a certificate/order has been obtained from the Assessing Officer under Section 195(2), 195(3) or 197.
- Part C — Where the amount exceeds Rs 5 lakh, it is taxable, and a Form 15CB has been obtained from a chartered accountant.
- Part D — Where the remittance is not chargeable to tax under the provisions of the Act (other than payments referred to in the specified exempt list).
The role of a CA in Form 15CB
Form 15CB is a certificate issued by a practising chartered accountant. It is required for taxable remittances above Rs 5 lakh and, in practice, is where the technical work sits. The CA:
- Examines the nature of the payment and the correct purpose code.
- Determines whether the sum is chargeable to tax under the Income-tax Act.
- Applies the relevant DTAA and checks the beneficiary’s Tax Residency Certificate (TRC) and Form 10F where a treaty benefit is claimed.
- Certifies the applicable TDS rate, the amount of tax deducted, and the section under which it is deducted.
Because a single mis-classification can lead to short deduction, interest, or a blocked remittance, most businesses treat 15CB as a professional review rather than a formality. If you would like a chartered accountant to review the code, taxability and certificate before you remit, our team can help you with end-to-end Form 15CA/15CB filing.
Frequently asked questions
Is a purpose code the same as Form 15CA?
No. A purpose code is an RBI/FEMA classification used by the bank to report the nature of a remittance. Form 15CA is an income-tax declaration by the remitter. They work together but serve different regulators.
Do I always need Form 15CB for a foreign payment?
No. Form 15CB is generally required only when the remittance is taxable in India and exceeds Rs 5 lakh in the financial year. Small or non-taxable payments, and items on the Rule 37BB specified list, may not need it.
What happens if I use the wrong purpose code?
An incorrect code can cause the bank to reject or delay the remittance, misreport your FEMA data, and create a mismatch with your tax position, potentially leading to notices or short-deduction interest. Correct it before filing.
Who files Form 15CA — the sender or the bank?
The remitter (the person or business sending the money) files Form 15CA on the income-tax portal. The AD bank relies on the acknowledgement, along with Form 15CB where applicable, to process the remittance.
Cross-border payments sit at the intersection of FEMA and income-tax law, and small errors are costly. If you are planning an outward remittance and want the purpose code, taxability and certification handled correctly the first time, reach out to TAXAJ and we will guide you through the entire 15CA/15CB process.
Need expert help?
TAXAJ’s Chartered Accountants, Company Secretaries and legal team handle this end-to-end for businesses and individuals across Delhi, Bengaluru, Goa and Bihar. Ask a question in our Community or get in touch with TAXAJ.
This guide is general information and is not a substitute for professional advice. Rules, rates and deadlines can change — verify the latest position on the relevant official portal or consult a professional before acting.
