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NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS RECEIPT PURPOSES Group No. Purpose Group Name Purpose Code Description 00 Capital Account .P0001 Repatriation of Indian investment abroad in equity capital (shares) ... P1404 Inward remittance of interest on debt securities - debentures / bonds /FRNsetc, P1405 Inward remittance towards interest receipts of ADs on their own account (on investments.) P1406 Repatriation of profits to India
List of permissible Inward Remittance Purpose Code and Documents Required for the same. NOTE: Documents required for above purpose codes are required to be submitted to HDFC Bank branch. You are requested to contact your HDFC Home branch / Relationship Manager for the same. The formats of the various declarations are provided below.
If purpose is not covered in the list above, please refer to section B in Page 10 in below link and choose appropriate purpose code -- https://rbidocs.rbi.org.in/rdocs/notification/PDFs/ASAP840212FL.pdf
NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS PAYMENT PURPOSES Group No. Purpose Group Name Purpose Code Description 00 Capital Account S0001 Indian investment abroad -in equity capital (shares) ... 03 Travel S0301 Remittance towards Business travel. S0302 Travel under basic travel quota (BTQ) S0303 Travel for pilgrimage S0304 Travel for medical treatment S0305 - Travel for education (including fees, lostel
Feb 7, 2018 · You can find the complete list of purpose codes in the below table. For inward remittance due to sale of Employee Stock Purchase Program (ESPP) and Restricted Stock Units (RSU), the most matching purpose code is P0021 - Receipts on account of sale of share under Employee stock option.
Nov 17, 2023 · An updated and comprehensive list of RBI purpose codes with detailed explanations is published on the official RBI website: Annexure II RBI Purpose Codes for reporting FOREX Transactions to India. Annexure III RBI Purpose Codes for reporting FOREX Transaction from India.
Jun 17, 2024 · What is the Purpose Code for Inward Remittance? Purpose Codes for inward remittance are alphanumeric representations assigned to different types of transactions. In the context of inward remittance, they show the reason for transferring funds into India.
a. inward remittance received through normal banking channel, other than the remittance received pursuant to any undertaking given to the Reserve Bank or which represents foreign currency loan raised or investment received from outside India or those received for meeting specific obligations by the account holder.
Nov 15, 2023 · Purpose Codes for Inward Remittance: Each remittance must be accompanied by a purpose code, indicating the nature of the transaction. You can find the list of remittance purpose codes on RBI's website .
Jun 19, 2024 · While there are over 150 RBI purpose codes for inward remittance, we break down below some of the commonly used ones: Purpose Code: P0802 RBI Category: Computer & Information Services RBI Description: Software implementation/consultancy (other than those covered in SOFTEX form)
