\n| Professionals covered<\/td>\n | 36<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n The exercise focuses on Shell entities, Beneficial persons behind such entities, Professionals issuing Form 15CB certificates and Large outward remittances from border districts and sensitive locations<\/p>\n <\/span>Key Message for Tax Professionals<\/span><\/span><\/h3>\n\n- The CBDT has specifically reminded accountants that while issuing Form 15CB\/Form 146, they must exercise the following due care: Professional diligence, independent judgment, and Proper verification of underlying transactions and supporting documents<\/li>\n
- For professionals, this means maintaining robust documentation such as foreign remittance agreements, vendor invoices, tax residency certificates, Form 10F (where applicable), FEMA compliance records, and books of account supporting the transaction and TDS computation workings.<\/li>\n<\/ul>\n
<\/span>Implications for Businesses of these <\/span>CBDT Press Releases <\/span><\/span><\/h3>\nBusinesses making foreign remittances should ensure Genuine commercial substance behind transactions, Proper agreements with foreign vendors, supporting invoices, and bank records. Correct withholding tax analysis, consistency between turnover and remittance amounts, and availability of documents supporting Form 15CB certification.<\/p>\n <\/span>CBDT Press Releases on Verification Drive on Suspicious Foreign Remittances<\/span><\/span><\/h3>\n![\"Income](\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2026\/08\/Dept-Verification-Drive-on-Suspicious-Foreign-Remittances.jpg\") <\/p>\n
<\/span>Conclusion<\/span><\/span><\/h3>\nThe CBDT’s latest action indicates increasing use of data analytics, foreign remittance databases, and field intelligence to detect suspicious cross-border transactions. The verification drive is not only focused on remitting entities but also on professionals issuing Form 15CB\/Form 146 certifications. Taxpayers and chartered accountants should therefore strengthen documentation, due diligence, and compliance procedures relating to foreign remittances.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Income Tax Department’s Verification Drive on Suspicious Foreign Remittances CBDT press release dated 18 August 2026 announcing a nationwide verification exercise targeting suspicious outward foreign remittances. The Department has identified entities that remitted substantial funds abroad despite reporting little or no genuine business activity. What Triggered the Investigation? The Income Tax Department analyzed foreign remittance …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1283],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/11040"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=11040"}],"version-history":[{"count":3,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/11040\/revisions"}],"predecessor-version":[{"id":11044,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/11040\/revisions\/11044"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=11040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=11040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=11040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |
![\"verification](\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2026\/08\/15CB-or-146-.png\")
<\/p>\n