What is the difference between purpose codes P1003 and P1006?

P1003 and P1006 sit close together in group P10, "Other Business Services", which is why they are sometimes mixed up on forms and in bank emails.¹ They describe very different things. This page sets out what each code means, who uses it, and what to do if the wrong one was applied.

For choosing among all consulting-related codes (management, IT, engineering, legal, tax), see purpose code for consulting services.

What is the difference between P1003 and P1006?

The difference between P1003 and P1006 is what the client pays for: P1003 is the use of an asset, such as an aircraft, without crew, while P1006 is advice and management or PR services.¹² Both codes come from RBI's list in Annex I to A.P. (DIR Series) Circular No. 84 dated 29 February 2012.¹

HDFC Bank's reproduction of the list matches RBI's descriptions for both codes.³

What does the P1003 purpose code mean?

P1003 is the purpose code for "Operational leasing services (other than financial leasing) without operating crew, including charter hire- Airlines companies", according to RBI's list.¹ It covers renting out an asset, such as an aircraft, to a foreign party without supplying the people who operate it. The shipping-company equivalent is P1021.¹

The Directorate General of Foreign Trade (DGFT), in its purpose code to SAC (Services Accounting Code) mapping, links P1003 to rental of aircraft (SAC 996603) and to leasing or rental of transport equipment, agricultural, construction and office machinery, and other goods (SAC 997311 to 997329).² That mapping is wider than RBI's wording, which names airline companies, so a non-airline lessor should confirm the code with its bank.¹²

What does the P1006 purpose code mean?

P1006 is the purpose code for "Business and management consultancy and public relations services".¹ DGFT maps it to SAC 998311, "Management consulting and management services including financial, strategic, human resources, marketing, operations and supply chain management", and SAC 998312, "Business consulting services including pubic relations services" (DGFT's spelling).²

Who do the P1003 and P1006 purpose codes apply to?

P1006 applies to consultants and PR agencies billing foreign clients, and P1003 applies to airlines and lessors renting out aircraft or equipment without crew.¹² The table shows which code fits each kind of exporter.

The last two rows show that neither code is a catch-all; the work decides the code.¹

How do you choose between P1003 and P1006?

You choose between P1003 and P1006 by asking whether the client pays for your advice or for the use of an asset you own.¹ A consultant billing for advice, strategy, management, HR, operations or public relations work would normally use P1006, because that is what its RBI description and DGFT's mapped SAC codes cover.¹²

1. Identify what the client pays for: Decide whether the foreign client pays for advice or PR work, or for the use of an asset such as an aircraft.¹
2. Check for crew: If the client pays for an asset, check whether you supply an operating crew; P1003 covers leasing without crew.¹
3. Check for a more specific consulting code: If the client pays for advice, check whether IT, tax, engineering, legal or market research codes describe it better than P1006.¹
4. Tell the bank the code: Give the bank the chosen code when the payment arrives and keep the contract and invoice ready.
5. Check the code the bank reported: Check the code on the bank's record and ask the bank to amend it if it is wrong.⁵

For example, a Bengaluru strategy consultant advising a Singapore start-up on market entry, an HR consultant designing a compensation framework for a UK company, and a PR agency running media relations for a US brand would all compare P1006.¹² P1003 would only fit if what you are paid for is the use of equipment you own, without crew, and your bank agrees it falls within the code.¹² Where the contract mixes consulting with other services, such as software implementation or engineering, the right code may be P0802 or P1014 instead; the contract decides, so confirm with your bank.¹

What documents and deadlines apply to a P1003 or P1006 receipt?

A P1003 or P1006 receipt follows the same rules as any export of services: the Export Declaration Form (EDF), realisation of the payment, and an e-BRC that matches the purpose code.⁷⁵

The 2026 Regulations here are the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026.⁷

What happens if P1003 is used instead of P1006?

If P1003 is used instead of P1006, a consulting fee is recorded as an aircraft lease in RBI's statistics, and the e-BRC SAC will not match the consulting work.¹⁵ Ask the bank that credited the payment to amend it. DGFT's e-BRC FAQs say exporters must contact the bank to request purpose code changes, and that banks can amend the inward remittance message (IRM) and communicate the updated details.⁵

Platforms may fix the code on their side. Upwork, for example, says its India payouts are hardcoded to P0103 or P1006, that it does not control which is used, and that any other code must be requested through your own bank.⁶ See how to correct a purpose code after payment for the steps.

Which RBI rule sets the P1003 and P1006 purpose codes?

The P1003 and P1006 purpose codes are set by RBI's purpose code list in Annex I to A.P. (DIR Series) Circular No. 84 dated 29 February 2012, Part B (receipt purposes).¹ In plain terms, the circular gives banks a list of codes to describe why foreign exchange came into India, and P1003 and P1006 are two of those descriptions.¹

• Circular: A.P. (DIR Series) Circular No. 84, Annex I, Part B.¹
• Date: 29 February 2012.¹
• Plain meaning: P1003 is airline leasing without crew; P1006 is business and management consultancy and PR.¹

What are the common mistakes with P1003 and P1006?

The common mistakes with P1003 and P1006 are relying on older lists, typing the wrong digit, and using P1006 for consulting that has a more specific code.¹⁴

• Older lists: Nordea's India list, which reproduces an older classification, describes P1003 as "Operational leasing services (other than financial leasing and without operating crew) including charter hire" with no reference to airlines, and does not split engineering or tax consulting into separate codes.⁴ Under the 2012 list, those are P1014 and P1015.¹
• Typing errors: A "3" for a "6" on a bank form changes a consulting fee into an aircraft lease in RBI's statistics.¹
• Specialist advice: Several neighbouring codes in group P10 cover specialist advice that might otherwise be lumped under "consulting".¹ Using the specific code, where one exists, keeps your receipt aligned with the SAC on your invoice.²

Which other P10 codes sit close to the P1006 purpose code?

The P10 codes below sit close to P1006 and suit specialist advice that P1006 would otherwise be stretched to cover.¹

The Best for column is our reading of the RBI descriptions.¹ For software consulting, the code is P0802 in group P08, not a P10 code.¹ Where a payment could fit more than one description, confirm the code with your bank or a chartered accountant.