null

Srivatsan Sridhar

31 May 2024

Srivatsan Sridhar31 May 2024

Stop losing money on international payments.Switch to Skydo.

Get international bank accounts in 5 mins

Save as much as ₹10 lakh annually with Zero FX Margin

Real time payment tracking and instant FIRA

Need Help with Purpose Codes?Connect with our expert for guidance.

Understand Purpose Codes easily

Ensure Compliance with rules

Get tailored expert advice

Struggling to Find Your IBAN?Our experts are here to assist.

Locate your IBAN quickly

Avoid payment delays

Expert Insights

Learn to Set Up PayPal.Download our step-by-step guide now.

Step-by-Step Instructions

Quick account setup tips

Start receiving payments instantly

Purpose code finder toolFind out the correct purpose code under RBI for your inward and outward remittance.

Code	Category (as per RBI) Category(as per RBI)	Description (as per RBI) Description(as per RBI)	When to use?
P0017	Capital Account	Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks etc., land acquired by government, use of natural resources) -Government	This code applies to situations where the Indian government sells intangible assets like patents, copyrights, trademarks etc to a foreign entity. This however excludes any kind of financial assets.
P0019	Capital Account	Receipts on account of Sale of non-produced non-financial assets (Sale of intangible assets like patents, copyrights, trademarks etc., use of natural resources) - Non-Government	P0019 is used when a private company or organization in India sells intangible assets like patents, copyrights, trademarks, or even the right to use natural resources (with government permission) to a foreign entity. This however excludes any kind of financial assets.
P0101	Exports (of Goods)	Value of export bills negotiated / purchased/discounted etc. (covered under GR/PP/SOFTEX/EC copy of shipping bills etc.)	P0101 is used when an Indian company exports goods and receives a foreign payment that is usually backed up by official export documentation like GR, PP, SOFTEX, or EC copy of shipping bills.
P0102	Exports (of Goods)	Realisation of export bills (in respect of goods) sent on collection (full invoice value)	This code is used when an Indian company exports goods and receives payment for the full invoice value. Note that this purpose code is applicable only when the foreign client has received the shipment.
P0103	Exports (of Goods)	Advance receipts against export contracts (export of goods only)	This is used when businesses receive advance payment against the contract of the goods to be exported. In other words, here the company receives payment for goods before they are shipped.
P0108	Exports (of Goods)	Goods sold under merchanting / Receipt against export leg of merchanting trade*	This code applies to situations where an Indian company acts as a middleman in an international trade transaction, but the goods never physically enter India.
P0302	Travel	Business travel	This code is used for foreign exchange transactions related to business travel, particularly when someone converts currency for a work trip abroad.
P0801	Computer & Information Services	Hardware consultancy	This code is used when exporters receive foreign payment for providing hardware consultancy or implementation services abroad.
P0802	Computer & Information Services	Software implementation/consultancy (other than those covered in SOFTEX form)	This code is applicable for any sort of software developement, implementation and/or consultancy work done other than those covered in SOFTEX form.
P0803	Computer & Information Services	Data base, data processing charges	This code applies when exporters are receiving foreign currency for providing data processing services abroad. This could be relevant for companies like Business Process Outsourcers (BPOs)
P0805	Computer & Information Services	News agency services	P0805 is used when when an Indian entity receives international payment for providing news agency services abroad. For example An Indian news agency receives payment from a foreign media outlet for news content.
P0806	Computer & Information Services	Other information services- Subscription to newspapers, periodicals, etc.	This is a catch-all code to track foreign payments for various information services not explicitly mentioned in other codes under P08. This can include subscriptions to specialized databases, newspaper periodicals etc.
P0807	Computer & Information Services	Off-site Software Exports	This code signifies that an Indian company is receiving payment for software development or IT services provided to a foreign client, but the work itself is done in India.
P1002	Other Business services	Trade related services - Commission on exports/imports."	This code applies when an Indian company is receiving payment for working as a commission agent for foreign parties. The commission agent helps the foreign party to sell in India or buy from India.
P1004	Other Business services	Legal services	This code is used when an Indian entity receives payments for providing legal services to foreign clients.
P1005	Other Business services	Accounting, auditing, book keeping services	This code is applicable when an Indian entity receives international payment from foreign clients for providing financial expertise in the field of accounting, auditing, book keeping and tax consultation
P1006	Other Business services	Business and management consultancy and public relations services	This code is used when exporters receive a payment from a foreign client for providing business consultancy, management consultancy or public relations services.
P1007	Other Business services	Advertising, trade fair, market research and public opinion polling services	This code is used when exporters receive a payment from a foreign client for providing advertising, trade fair, market research or public opinion polling services
P1008	Other Business services	Research & Development services	This code is used when exporters receive a payment from a foreign client for providing research & development services.
P1009	Other Business services	Architectural, engineering and other technical services	This code is used when exporters receive a payment from a foreign client for for providing architectural, engineering and other technical services
P1010	Other Business services	Agricultural, mining and on -site processing services - protection against insects & disease, increasing of harvest yields, forestry services, mining services like analysis of ores etc.	This code is used when exporters receive a payment from a foreign client for providing Services related to Agriculture, Forestry, and Mining. This includes analysis, protection of sites, and on-site processing.
P1011	Other Business services	Inward remittance for maintenance of offices in India	This code is used when exporters receive a transfer of funds from abroad specifically for the maintenance and upkeep of an office located in India.
P1013	Other Business services	Environmental services	This code is used when exporters, receive a payment from a foreign client for services related to protecting, managing or maintaining the environment.
P1101	Personal, Cultural & Recreational services	Audio-visual and related services -services and associated fees related to production of motion pictures, rentals, fees received by actors, directors, producers and fees for distribution rights.	This code applies when exporters receive a payment from a foreign client for services related to the prodction, direction, rental, distribution, or use of audio-visual content. It also includes fees paid to actors, performers and associates related to such audio-visual content.
P1201	Government, not included elsewhere (G.n.i.e.)	Maintenance of foreign embassies in India	This code applies when a foreign government transfers funds for the maintenance and upkeep of foreign embassies in India.
P1203	Government, not included elsewhere (G.n.i.e.)	Maintenance of international institutions such as offices of IMF mission, World Bank, UNICEF etc. in India.	This code applies when an international institution like the IMF, World Bank etc transfers funds for the maintenance and upkeep of their respective offices in India.
P1301	Transfers	Inward remittance from Indian nonresidents towards family maintenance and savings	This code is used when an Indian non-resident sends money back to India for family maintenance or savings
P1302	Transfers	Personal gifts and donations	This code is used when someone receives money from abroad that is either a gift or donation sent for personal reasons.
P1303	Transfers	Donations to religious and charitable institutions in India	This code is used when religious or charitable organizations in India (non-government) receive donation from abroad.
P1304	Transfers	Grants and donations to governments and charitable institutions established by the governments	This code is used when the government and charitable institutions established by the governments receive a transfer of funds from abroad as grants and donations.
P1401	Primary Income	Compensation of employees	This code is used while receiving payment from abroad that represents your salary, wages, bonus, or other forms of compensation for your work.
P1403	Primary Income	Inward remittance towards interest on loans extended to non-residents (ST/MT/LT loans)	This is used when you, receive interest payments on a loan you provided to a non-resident borrower abroad.
P1501	Others	Refunds / rebates on account of imports	This code is used when you receive a payment from abroad that is a refund for goods you previously imported into India.
P1502	Others	Reversal of wrong entries, refunds of amount remitted for non-imports	This code is used when you receive a refund for a non-import related remittance due to an error or cancellation.

Save 50% on every international transfer

Receive from 150+ countries

Get global accounts

Zero forex margin

About the author

Srivatsan Sridhar

Co-Founder & CEO

“I enjoy building Skydo ground-up”Travel, Music & History