Foreign Remittance

This query is : Resolved

Yogesh (Querist)
Follow

09 November 2010 Is there any contravention if after filing form 15 CA for foreign remittance,actual remittance is not made? Also what is the time limit for making remittance after form 15 CA has been filed online?

haridhayalan

haridhayalan (Expert)
Follow

09 November 2010 nothing will happen if you not making the payment after generate the Form 15CA. do not submit with the bank. just write a letter to bank states that we have generated the Form 15CA but we dont want to make the payment to foreign vendors.

secondly, time limit for Form 15CA is 7 days from the generated date. before that you have to submit with the bank and transfer the fund.