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In India each individual or business that remits a payment to non-residents must meet specific taxes filing requirements, notably the forms 15CA and15CB. These forms are essential under the Income Tax Act and help the Indian government track the outflows of foreign currency. Here, we'll discuss the distinctions from the forms 15CA or Form 15CB, the instances that each must be used and the purpose they serve. What is Form 15CA? Form 15CA is essentially a declaration made by those who are remitting money to an outsider. I
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