Payments & Finance
Payment methods, banking codes, forex, personal finance
RBI Purpose Code List 2026: All 297 Codes, Inward and Outward
Every foreign currency payment that crosses an Indian bank carries a five character purpose code. Your bank puts it on the transaction whether you choose it or not, and it is the single field that decides how RBI classifies your money in India's balance of payments. Here is the complete current list. All 297 codes, both directions, in RBI's own wording. TL;DR * There are 297 codes: 138 inward (P), 136 outward (S), and 23 cover page codes that only banks use for fortnightly aggregates. * P
Section 195 TDS on Payments to Non-Residents: What It Became in 2026
Section 195 of the Income-tax Act, 1961 required you to deduct tax at source before paying a non-resident anything chargeable to tax in India. That obligation still exists. The section number does not. For any payment where the earlier of credit or payment falls on or after 1 April 2026, the governing provision is Section 393(2), Table Sl. No. 17 of the Income-tax Act, 2025. Same duty, same rates, different reference, and the reference is the part that bites, because the filing utility validate
Form 15CA and 15CB: How to File, and What They Became in 2026
Form 15CA is the declaration you file before sending money out of India to a non-resident. Form 15CB is the chartered accountant's certificate that supports it when the payment is taxable and crosses ₹5 lakh in a tax year. Together they are how the Income Tax Department sees a foreign remittance before your bank releases it. Both forms have been renumbered. Under the Income-tax Rules, 2026, Form 15CA is now Form No. 145 and Form 15CB is now Form No. 146. The rule that governs them moved from Ru
What Is OPGSP? The Framework That Replaced It, and What Changed in 2025-26
OPGSP stands for Online Payment Gateway Service Provider, the arrangement that let Indian exporters and importers collect and send small cross-border payments through an intermediary tied to a bank, rather than through their own wire transfer. It was never a licence. An OPGSP held no authorisation from the Reserve Bank of India. It worked by entering a standing arrangement with an Authorised Dealer Category-I bank, and that bank carried the compliance. That framework no longer exists. If you ar
Form A2 for Foreign Remittance (2026): Which Form You Actually Need, Purpose Codes & TCS
Form A2 is the application-cum-declaration you sign before your bank sells you foreign exchange and wires it abroad. It tells the Authorised Dealer who is paying, who is being paid, how much, and the part that decides everything downstream - why. It is issued under the Foreign Exchange Management Act, 1999, and since 3 July 2024 your bank must obtain it for every outward remittance, whether you are sending ₹40,000 or ₹4 crore. Here is the problem with almost every guide ranking for this term. T
How to Transfer Money from India to Another Country: Methods, RBI Rules & Costs
If you’ve ever tried sending money from India to another country for your child’s university fees, supporting family, paying a foreign freelancer, or settling an import invoice, you’ve probably felt the confusion first-hand. Between RBI rules, FEMA regulations, bank forms, purpose codes, and all the options (banks, Wise, Western Union, and now platforms like EximPe), it’s hard to know what’s actually the best and safest way to move your money. This guide breaks everything down in simple langua