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‘Annual Information Statement’ for every taxpayer is prepared based on the information collected from various sources. For the information category ‘Outward foreign remittance/ purchase of foreign currency’, ‘Annual Information Statement’ will majorly collect information from Form 15CC. The said information category is briefly explained in the present article.

Various information sources for the information category ‘Outward foreign remittance/ purchase of foreign currency’ under ‘Annual Information Statement’-

According to rule 37BB of the Income Tax Rules, 1962, the authorized dealer is required to furnish a quarterly statement in Form 15CC reporting the outward foreign remittance. The following information will be collected from the said quarterly statement under ‘Annual Information Statement’-

Purpose code Information collected
S0001 Indian Portfolio Investment abroad in equity shares (Foreign Portfolio Investments)
S0002 Indian Portfolio Investment abroad in debt instrument (Foreign Portfolio Investments)
S0003 Indian Portfolio Investment abroad in equity shares (Foreign Direct Investments)
S0004 Indian Portfolio Investment abroad in debt instrument (Foreign Direct Investments)
S0005 Indian Portfolio Investment abroad in real estate (Foreign Portfolio Investments)
S0006 Repatriation of FDI in equity shares (Foreign Direct Investments)
S0007 Repatriation of FDI in debt instrument (Foreign Direct Investments)
S0008 Repatriation of FDI in real estate (Foreign Direct Investments)
S0009 Repatriation of foreign portfolio investment in equity shares (Foreign Portfolio Investments)
S0010 Repatriation of foreign portfolio investment in debt instruments (Foreign Portfolio Investments)
S0011 Loans extended to non-residents (External Commercial Borrowings)
S0012 Repayment of Long- and medium-term loans received from non-residents (External Commercial Borrowings)
S0013 Repayment of short term loans received from non-residents (External Commercial Borrowings)
S0014 Repatriation of non-resident deposits (FCNR(B)/ NR(E)RA etc.) (Banking capital)
S0015 Repayment of loans and overdrafts taken by ADs on their own account (Banking capital)
S0016 Sale of the foreign currency against another foreign currency (Banking capital)
S0017 Acquisition of non-produced non-financial assets -Government (Capital Account)
S0018 Other capital payments not included elsewhere (Banking capital)
S0019 Acquisition of non-produced non-financial assets -Non- Government (Capital Account)
S0020 Payments made on account of margin payments under financial derivative transactions (Financial Derivatives & Others)
S0021 Payments made on account of sale of shares under ESOP (Financial Derivatives & Others)
S0022 Investment in Indian Depositories Receipts (i.e., IDRs) (Financial Derivatives & Others)
S0023 Opening of foreign currency account abroad with the bank (Financial Derivatives & Others)
S0024 External Assistance extended by India to Foreign governments (External Assistance)
S0025 Repayments made on account of an external assistance received by India (External Assistance)
S0026 Capital transfers -Government (Capital Account)
S0027 Capital transfers -Non-Government (Capital Account)
S0099 Other capital payments which are not included elsewhere (Capital Account)
S0101 Advance payments against imports (Imports)
S0102 Payment towards imports settlement of invoice (Imports)
S0103 Imports by diplomatic missions (Imports)
S0104 Intermediary trade/ transit trade (Imports)
S0108 Goods acquired under merchanting/ payment against import leg of merchanting trade (Imports)
S0109 Payments made for imports from Bhutan and Nepal (Imports)
S0190 Imports below INR 500 (Imports)
S0201 Payments for surplus freight/ passenger fare by foreign shipping companies (Transport)
S0202 Payment for operating expenses of Indian shipping companies (Transport)
S0203 Freight on imports -Shipping companies (Transport)
S0204 Freight on exports -Shipping companies (Transport)
S0205 Operational leasing/ rental of vessels -Shipping companies (Transport)
S0206 Booking of passages abroad -Shipping companies (Transport)
S0207 Payments for surplus freight/ passenger fare by foreign airlines companies (Transport)
S0208 Operating expenses of Indian airlines companies (Transport)
S0209 Freight on imports -Airlines companies (Transport)
S0210 Freight on exports -Airlines companies (Transport)
S0211 Operational leasing /rental of vessels -Airlines companies (Transport)
S0212 Booking of passages abroad -Airlines companies (Transport)
S0213 Payments on account of demurrage, stevedoring, port handling charges etc. (Transport)
S0214 Payments on account of demurrage, stevedoring, port handling charges etc. -Shipping companies (Transport)
S0215 Payments on account of demurrage, stevedoring, port handling charges etc. – Airline companies (Transport)
S0216 Payments for passenger -Shipping companies (Transport)
S0217 Other payments by shipping companies (Transport)
S0218 Payments for passenger -Airlines companies (Transport)
S0219 Other payments by Airlines companies (Transport)
S0220 Payments on account of the freight under other modes of transport (Transport)
S0221 Payments on account of the passenger fare under other modes of transport (Transport)
S0222 Postal and courier services by air (Transport)
S0223 Postal and courier services by sea (Transport)
S0224 Postal and courier services by others (Transport)
S0301 Business travel (Travel)
S0302 Travel under basic travel quota (Travel)
S0303 Travel for pilgrimage (Travel)
S0304 Travel for medical treatment (Travel)
S0305 Travel for education (Travel)
S0306 Other travel (Travel)
S0401 Postal services (OLD)
S0402 Courier services (OLD)
S0403 Telecommunication services (OLD)
S0404 Satellite services (OLD)
S0501 Construction projects abroad by Indian companies (Construction Services)
S0502 Cost of construction etc. relating to projects executed by foreign companies in India (Construction Services)
S0601 Life Insurance Premium other than term insurance (Insurance and Pension Services)
S0602 Freight insurance relating to import and export of goods (Insurance and Pension Services)
S0603 Other general insurance premiums (Insurance & Pension Services)
S0604 Reinsurance premium (Insurance and Pension Services)
S0605 Auxiliary services including commission on insurance (Insurance & Pension Services)
S0606 Settlement of claims (Insurance & Pension Services)
S0607 Insurance claim settlement of non-life insurance and life insurance (Insurance & Pension Services)
S0608 Life claim settlements (Insurance & Pension Services)
S0609 Standardized guarantee services (Insurance and Pension Services)
S0610 The premium for pension funds (Insurance & Pension Services)
S0611 Periodic pension entitlements by an Indian Pension Fund Companies (Insurance & Pension Services)
S0612 Invoking of standardized guarantees (Insurance & Pension Services)
S0701 Financial intermediation charges (Financial Services)
S0702 Investment, underwriting commission, banking brokerage etc. (Financial Services)
S0703 Auxiliary service charges on the operation and regulatory fees etc. (Financial Services)
S0801 Hardware consultancy/ implementation (Telecommunication, computer and information services)
S0802 Software consultancy/ implementation (Telecommunication, computer and information services)
S0803 Database, data processing charges (Telecommunication, computer and information services)
S0804 Repair & maintenance of computer and software (Telecommunication, computer and information services)
S0805 News agency services (Telecommunication, computer and information services)
S0806 Subscription to periodicals, newspapers (Telecommunication, computer and information services)
S0807 Off-site software imports (Telecommunication, computer and information services)
S0808 Telecommunication services (Telecommunication, computer and information services)
S0809 Satellite services (Telecommunication, computer and information services)
S0901 Franchises services (Charges for the use of an intellectual property)
S0902 Payment for use through licensing arrangements of produced originals/ prototypes, patents etc. (Charges for the use of an intellectual property)
S0903 Merchanting services -net payments (Charges for the use of an intellectual property)
S1002 Trade-related to services commission on exports/ imports (Other Business Services)
S1003 Operational leasing services without operating the crew including charter hire -Airlines Companies (Other Business Services)
S1004 Legal Services (Other Business Services)
S1005 Accounting, book keeping, auditing services (Other Business Services)
S1006 Business & management consultancy and public relation services (Other Business Services)
S1007 Advertising, trade fair service (Other Business Services)
S1008 Research and Development Services (Other Business Services)
S1009 Architectural Services (Other Business Services)
S1010 Agricultural Services (Other Business Services)
S1011 Payments towards the maintenance of offices abroad (Other Business Services)
S1012 Distribution services (Other Business Services)
S1013 Environmental Services (Other Business Services)
S1014 Engineering Services (Other Business Services)
S1015 Tax Consulting Services (Other Business Services)
S1016 Market research & public opinion polling service (Other Business Services)
S1017 Publishing & printing services (Other Business Services)
S1018 Mining Services (Other Business Services)
S1019 Other services which are not included elsewhere (Other Business Services)
S1020 Commission agent services (Other Business Services)
S1021 Wholesale & retailing trade services (Other Business Services)
S1022 Operational leasing services without operating the crew including charter hire -Shipping Companies (Other Business Services)
S1023 Other technical services including scientific/ space services (Other Business Services)
S1099 Other services which are not included elsewhere (Other Business Services)
S1101 Audio visual & related services (Personal, Cultural and Recreational services)
S1102 Personal, cultural services (Personal, Cultural and Recreational Services)
S1103 Radio & television production, distribution and transmission service (Personal, Cultural and Recreational Services)
S1104 Entertainment Services (Personal, Cultural and Recreational services)
S1105 Museums, archival and library services (Personal, Cultural and Recreational services)
S1106 Recreation & sporting activity services (Personal, Cultural and Recreational services)
S1107 Education (Personal, Cultural and Recreational services)
S1108 Health services (Personal, Cultural and Recreational services)
S1109 Other Personal, Cultural and Recreational services (Personal, Cultural and Recreational services)
S1201 Maintenance of Indian embassies abroad -Government not included elsewhere
S1202 Remittance by foreign embassies in India -Government not included elsewhere
S1301 Remittance for family maintenance & savings (Secondary Income)
S1302 Remittance towards personal gifts & donations (Secondary Income)
S1303 Remittance towards donations to religious & charitable institutions abroad (Secondary Income)
S1304 Remittance towards donations and grants to other charitable institutions & governments (Secondary Income)
S1305 Contributions/ donations by the Government to an international institution (Secondary Income)
S1306 Remittance towards payment/ refund of taxes (Secondary Income)
S1307 Outflows of migrant transfers (Secondary Income)
S1401 Compensation of employees (Primary Income)
S1402 Remittance for interest on Non- resident deposits [FCNR(B)/ NR(E)RA, etc.] (Primary Income)
S1403 Remittance towards interest on loans from a non-resident (ST/ MT/ LT loans) (Primary Income)
S1404 Remittance of interest on debt securities, debentures, bonds, FRNs etc. (Primary Income)
S1405 Remittance towards interest payment by ADs on their account (Primary Income)
S1406 Repatriation of profits (Primary Income)
S1407 Payment or repatriation of dividends (Primary Income)
S1408 Remittance of profit by FDI enterprises in India (Primary Income)
S1409 Remittance of dividend by FDI enterprises in India on investment fund and equity shares (Primary Income)
S1410 Payment of interest by FDI enterprises in India to Parent company abroad (Primary Income)
S1411 Remittance of interest income on account of the portfolio investment in India (Primary Income)
S1412 Remittance of dividend on account of the portfolio investment in India on investment fund and equity shares (Primary Income)
S1501 Refunds, rebates, reduction in invoice value on account of exports (Others)
S1502 Reversal of wrong entries/ refunds of the amount remitted for non-exports (Others)
S1503 Payments by residents towards international budding (Others)
S1504 Notional sales when export bills are dishonored/ crystalized/ cancelled and reversed from suspense account (Others)
S1505 Deemed Imports (Others)
S1601 Payments towards repair and maintenance services rendered for vessels etc. (Maintenance and repair services)
S1602 Payments towards repair and maintenance services rendered for aircraft etc. (Maintenance and repair services)
S1701 Payments towards the processing of goods (Manufacturing Services)

Additionally, ‘Annual Information Statement’ will also grab the following information from the TCS return filed by the collector in Form 27EQ-

1. Remittance under LRS for an educational loan taken from the financial institutions mentioned in section 80E; and

2. Remittance under LRS for purpose other than for the purchase of overseas tour package/ for an educational loan taken from financial institutions.

Further, ‘Annual Information Statement’ will also grab the following information-

1. Purchase of foreign currency [Form 61A (SFT-011)];

2. Payments for purchase of foreign currency or remittance outside India [Form 61].

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