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Form 147 Due Date for Quarter Ending June 2026 – Quarterly Statement by Authorised Dealers

Foreign remittances are subject to reporting requirements under the Income-tax Rules, 2026. One of the key compliance obligations for authorised dealers (ADs) is the filing of Form 147, which captures details of eligible remittances made to non-residents during the relevant quarter.

For the quarter ending June 2026 (April–June 2026), the due date for furnishing Form 147 is 15 July 2026.

What is Form 147?

Form 147 is the quarterly statement to be furnished by an Authorised Dealer (such as an RBI-authorised bank or financial institution) in respect of remittances made to:

• Non-residents (other than companies), or

• Foreign companies.

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The form has been introduced under the Income-tax Rules, 2026 as the successor to the earlier Form 15CC under the Income-tax Rules, 1962.

Legal Provision

As per Rule 220(6)(a) of the Income-tax Rules, 2026, every authorised dealer is required to furnish a quarterly statement in Form 147 containing details of specified foreign remittances made during the quarter.

The reporting requirement corresponds to the provisions relating to tax deduction on payments to non-residents under the Income-tax Act, 2025. The Central Board of Direct Taxes (CBDT) has also released the prescribed Form 147 and detailed guidance notes explaining its applicability and filing process.

Due Date for the Quarter Ending June 2026

Reporting Period: 1 April 2026 to 30 June 2026

Due Date: 15 July 2026

Timely filing helps ensure proper reporting of foreign remittance transactions and supports the Income-tax Department's compliance and information reporting framework.

Information Required in Form 147

The quarterly statement generally includes:

• Details of the authorised dealer

  • Name

  • PAN

  • Address

  • Email ID

  • Contact details

  • ITDREIN

• Details of the remitter

  • Name

  • PAN

• Details of the non-resident recipient

  • Name

  • PAN (if available)

  • Tax Identification Number (TIN), where available

  • Country of residence

• Remittance particulars

  • Amount remitted

  • Date of remittance

  • Bank account details

  • RBI purpose code

  • Form 145 acknowledgement number, wherever applicable, or the prescribed reporting code if Form 145 is not required.

Who is Required to File?

The obligation to file Form 147 rests only on Authorised Dealers approved under the Foreign Exchange Management Act (FEMA), 1999.

Taxpayers making foreign remittances are not required to file Form 147 themselves. However, they should ensure that the necessary declarations and documentation, including Form 145 wherever applicable, are furnished to the authorised dealer before the remittance is processed.

Key Compliance Points

• File Form 147 for every quarter in which eligible remittances are made.

• Verify remittance details before submission.

• Maintain supporting documents and Form 145 acknowledgements, where applicable.

• Ensure reporting is completed within the prescribed due date to avoid compliance issues.

Conclusion

The quarterly filing of Form 147 is an important compliance requirement for authorised dealers handling foreign remittances. With the due date for the April–June 2026 quarter falling on 15 July 2026, authorised dealers should ensure that all eligible transactions are accurately reported within the prescribed timeline.

For expert guidance on this topic, contact your tax professional today.

Sources:

• CBDT – Guidance Note on Form No. 147 (Quarterly Statement by Authorised Dealer).

• Rule 220 of the Income-tax Rules, 2026.

• Form No. 147 prescribed under the Income-tax Rules, 2026.

EXCERPT: Form 147 for foreign remittances made during the quarter ending June 2026 must be filed by authorised dealers by 15 July 2026.

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