• Mar
  • 14
  • 2012

Form 15CA,15CB for remittance of payments to non-resident or foreign company

Currently, remittances to non-residents are allowed by banks if the person making the remittance furnishes an undertaking, accompanied by a certificate from a Chartered Accountant (“CA”) certifying the rate for withholding tax as per section 195 of the Act. The banks then forward the certificates to the Reserve Bank of India (“RBI”), which in-turn forwards it to the Income tax department.

Finance Act, 2008 inserted a new sub section (6) to section 195 effective from April 1, 2008, which requires the person responsible for making payment to a non-resident to furnish information relating to such payments in forms to be prescribed. The Central Board of Direct Taxes (“CBDT”) has now, by notification No 30/2009 dated March 25, 2009, prescribed a new rule 37BB in the Income Tax Rules, 1962 (“the rules”) prescribing Form 15CA and Form 15CB to be filed in relation to remittances to non-residents under section 195(6) of the Income Tax Act, 1961 (“the Act”). This new rule is effective from July 1, 2009 and shall apply to all remittances being made after July 1, 2009. The process that will have to be followed, before any remittance can be made, is as under—

Step 1 : Obtain a certificate from a Chartered Accountant in Form No 15CB

Step 2:Furnish the information in Form No15CA

Step 3:Electronically upload Form 15CA on the designated website

Step 4:Take Print out of Form 15CA and file a signed copy

Step 5:Remit money to the Non Resident

Please note that all the above steps have to be undertaken before remittance of money to the non-resident.

Notification no. 30/2009 is as below:-

In exercise of the powers conferred by section 295 read with sub-section (6) of section 195 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1.    (1) These rules may be called the Income-tax (Seventh Amendment) Rules, 2009.

(2) They shall come into force with effect from 1st July, 2009.

2.    In the Income-tax Rules, 1962, after rule 37BA, the following rule shall be inserted, namely:-

“Furnishing of information under sub-section (6) of section 195.

37BB. (1) The information under sub-section (6) of section 195 shall be furnished by the person responsible for making the payment to a non-resident, not being a company, or to a foreign company, after obtaining a certificate from an accountant as defined in the Explanation to section 288 of the Income-tax Act, 1961.

(2) The information to be furnished under sub-section (6) of section 195 shall be in Form No. 15CA and shall be verified in the manner indicated therein and the certificate from an accountant referred to in sub-rule (1) shall be obtained in Form No. 15CB.

(3) The information in Form No. 15CA shall be furnished electronically to the website designated by the Income-tax Department and thereafter signed printout of the said form shall be submitted prior to remitting the payment.

(4) The Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture, transmission of data and shall also be responsible for the day-to-day administration in relation to furnishing the information in the manner specified.

FORM NO. 15CA- Download

FORM NO. 15CB- Download


45 Responses to “Form 15CA,15CB for remittance of payments to non-resident or foreign company”

  1. adigouda says:

    pls tell what is 15CA & 15CB form

  2. Sriganesh says:

    I have uploaded the 15ca form and got an ackowledgement for the same but later realized that at one point i have made amistake and wrongly considered taxability of income tax section, how do i edit it as i cannot fill a new form again

  3. narendra Tanna says:

    Pl inform that – foreign commission paid in $ / Euro – period from – 01-04-2010 to 31-03-2011
    Commission agent – Business office Not in india – say citizen of brazil , dubai , usa et…. TDS to be deducted or not required to deduct TDS . if TDS Deduction @ what % & if not require to deduct TDS what evidence require

  4. naveen says:

    dear sir
    We had filled wrong 15 CA without filling 15 CB . is there is any liability to us. But we had deposited the TDS . please advise us if there is any penalty or fine on this matter

  5. naveen says:

    Dear sir
    If we filed wrong 15 CA .then is there is any procedure to correct it with our filling 15 CB

  6. Girish Jani says:

    What shall I do if I have to remit aud2000 for living exp to my son studying at Australia. Urgent pl.

  7. NM says:

    Couple of questions:

    1. How can my supplier claim for the TDS deducted in India if s/he lives in foreign country?

    2. In my business, we are required to make part payments at times. In such cases, would I need to follow the TDS procedure along with 15CA/15CB for each part payment? If so, then that would be unfair, wouldn’t it as you end up deducting more than once and therefore, more than needed?

    3. Most suppliers don’t quite care about TDS that we are to deduct here and want the full amount. But the government wants us to deduct TDS. So in effect, we end up paying taxes on their behalf and paying the supplier in full. Can we claim refund of this TDS that we’ve paid or is it taken for granted that its government money after that?

    4. What is the TDS tax slab that needs to be deducted and who decides?

    5. After what amount is this TDS and 15CA/15CB valid and required? Do I have to do this for paying someone $100 also?

    Need answers asap as I need to make payments and these rules are actually resulting in eating away all my profits.

    Thanks!

  8. Rahul says:

    Hi All !

    I have one querry. If i made a payment to local party against EEFC invoice through EEFC A/c. Its required the 15CA & 15CB form…?

    We deal with various shipping lines.

  9. Dev Chopra says:

    I am wondering what advice you gave on the following question to Mr. Varun Gupta on July 2010.

    There is a big flaw on the online for as on 03 July 2012. Or maybe we have not been able to understand it properly.
    In part 2 of the bank, there is a field that states – “Name of the bank *”, which is a required field, and the user has to select from a droplist. The list has a couple of options. What if the user has to transfer to a bank that is not there in this list. There is no Others option. Let’s say the user wants to transfer to Intesa Sanpaolo. There is no option. There are hundreds of big banks which are not there in this dropdown. Does this mean that an Indian resident cannot transfer to a business or individual who has an account in the banks which are not listed in this droplist?

    Best wishes,
    Varun Gupta

  10. Nitin says:

    Hi,

    Can you please tell if forms 15CA, 15CB would be required to pay about 36000 dollars for a year to a university abroad via Demand Draft or Telegraphic Transfer. Please reply immediately.

    Thanks.

  11. Usha says:

    Is Form 15CB if we buy a train ticket and air ticket in foreign currency

  12. ankit says:

    IF i have to make Interest payment for buyer credit on two different dates then i have to take two different certificate or one certificate is enough

  13. SUMEET says:

    I WANT TO KNOW CAN PART PAYMENT BE DONE ??? RPLY ASAP ITS URGNT AND IF YES THN HOW MUCH TDS TO BE DEDUCTED??? ON FULL OR ON HALF??

  14. H.RASID says:

    son is a NRI who sold a flat under STG and paid adv tax.NRO A/C TO CONVERTED AS NRE A/C.who will sign Form 15ca or who will trat as REMITTER AND REMITTANCE? Father have any right to sign on 15CA ?

  15. jignesh says:

    sales proceeds of Immovable property, partially invested in capital gain tax bonds,now matured after three years.

    wether entire sales proceeds alongwith interest on matured capital gain tax bond can be remitted by NRI.

    There is no TDS provision applicable, how proceeds for 15ca & 15cb

  16. jayasri says:

    If a deposit is kept in nro account for one year and on maturity renewed for further two years and at the end of three years, the depositor want to transfer the funds abroad, what details are to be given in 15ca and 15cb.Interest only for the last deposit, or interest for the previous one also?
    and also, what r the dates to given in the form as date of tas deduction?
    please clarify. thanks

  17. vandana shinde says:

    I have uploaded the 15ca form and got an ackowledgement for the same but later realized that at one point i have made amistake and wrongly added a zero to one of the figures how do i edit it as i cannot fill a new form again

  18. anubhav says:

    what are the consequences if anyone has not files either of two forms 15CA &15CB.?
    AND as an auditor what are the rbi circular’s & fedai rules to be gone through in regard to remittances outside india and remittances in india.?

  19. Harish says:

    Can someone tell me the step by step procedure to transfer funds from indian NRO account to NRE account? I understand as per recent RBI decision this convention is possible. Anyone’s assistance will be highly appreciated. 
    Harish

  20. MEENAXI says:

    I have uploaded the 15ca form and got an ackowledgement for the same but later realized that at one point i have made amistake and wrongly added a BANK DETAIL how do i edit it as i cannot fill a new form again

  21. AMIT SURANA says:

    The clause say CA certificate is required for such remittance to Foreigner.

    But how can CA verify that the beneficiary of the remittance is really a Non Residence, and they doesnt have any office / branch in India or has PAN number in India.

    Is there a process to verify it or CA just need to give the certificate to its client just because he is our client.?

    Doesnt it involve responsibility to CA? or is this just a matter of formalities?

  22. Sujit Jha says:

    Is Chartered accountant Stamp is compulsory in 15 CB certificate

  23. asha damor says:

    dear sir,
    hello thanks because i get form 15ca 15cb.

  24. Abhishek Kala says:

    Dear sir,

    As a auditor what should I check in foreign exchange in bank audit

  25. Janardan Pandya says:

    If Form 15CA/15CB reqd for family remittances whether TDS applicable ? What’s rate ? What’s procedire for Refund as Income is below Taxable limit
    PAN is oK for TDS agst having NO TAN Pl clarify all confusing situations

  26. Janardan Pandya says:

    Whether F 15CA/15CB reqd for remittances made from NRO/NRE bank a/c to :
    1 To original a/c holder i.e to him/herself for maintenance in abroad say Canada/Uk ?
    2 To spouse/children/parents residing abroad say Canada/USA/UK ?

  27. Amit Bhatia says:

    Dear greeting’s,
    any payment made out of india requires Certificate from CA’s or there are list of payment to whom certificate is required ..?
    like if “Mr.X” pays out of india as Fees for his Child whether MR. X also requires Certificate from CA?
    please reply at your earliest ,
    thanks,
    AMIt Bhatia

  28. ca K H Mahajan says:

    Sir, should I hv to file 15CA & 15 CB , for remitting money approx Pound 4000 to my son in
    U.K. The money which I will be remitting is his own money of PPF a/c in India, which is now
    maturing. The PPF a/c was opened by him when he was in India,i.e. before 1995, when he was
    medical college student. Thanks . pl guide. Ca K H Mahajan Mobile 9669910648

  29. Varun Gupta says:

    There is a big flaw on the online for as on 03 July 2012. Or maybe we have not been able to understand it properly. 
    In part 2 of the bank, there is a field that states – “Name of the bank *”, which is a required field, and the user has to select from a droplist. The list has a couple of options. What if the user has to transfer to a bank that is not there in this list. There is no Others option. Let’s say the user wants to transfer to Intesa Sanpaolo. There is no option. There are hundreds of big banks which are not there in this dropdown. Does this mean that an Indian resident cannot transfer to a business or individual who has an account in the banks which are not listed in this droplist? 

    Best wishes,
    Varun Gupta

  30. Soorya kumar says:

    I have filed form 15CA and issued a certificate. But for certain reasons as per that particular bank`s rules the assessee was not allowed to transfer the same. As the assessee was in need of money abroad he wants to transfer the same from a different bank. So how do I cancel the certificate issued earlier.

  31. VINOTH KUMAR .K says:

    I want more information on the concept of Foreign remittance made to foreign companies – the TDS applicability and the DTAA  give to explain 

  32. Tejashwini says:

    I want more information on the concept of Foreign remittance made to foreign companies – the TDS applicability and the DTAA.

    Regards,

    Tejashwini

  33. NARESH KR JAIN says:

    Whether the Central govt. departments are also liable to submit for 15cb and 15a for the  payment of foreign exchange outside India.

  34. Krishna Nand Chaubey says:

    I am very surprise that still the definition of “Accountant” section 288 of Income Tax Act 1961’ recognising only Chartered Accountant. Currently the standing committee of finance suggested to wide definition of “Accountant” and that will be good signal for professional and business community.

  35. JAYENDRAKUMAR says:

    Form 15CA, 15CB…Any new provision in the current Budget 2012-13?

  36. JAYENDRAKUMAR says:

    Is there any new provision in the current budget for the Form 15CB by a CA?

  37. amish says:

    I wanted to know how to upoad forms 15ca & 15cb.

  38. S. N.S. Anil Kumar says:

    After Obtaining 15CB certificate and filing 15CA online, with in howmany days the actual remittance is to be made to the non-resident ?

  39. CYRUS says:

    I have uploaded the 15ca form and got an ackowledgement for the same but later realized that at one point i have made amistake and wrongly added a zero to one of the figures how do i edit it as i cannot fill a new form again

  40. naresh says:

    I am working in pvt .ltd company. I want to make payment to malaysia. Since two weeks I trying to get Form no. 15CA on internet. But acknowledgement is not generating plz help me

  41. Mukesh says:

    If an individual make payment to NRi against purchase of their immovable property. should he deducte tds & deposit the same with concern authority. But how can it is possible if the person who is buying propety have no Tan No.

  42. Mohammed Ariff Billa says:

    I wanted to know how to upoad forms 15ca & 15cb…………..but could not know.

  43. priyanka says:

    pls tell what is 15CA & 15CB form

  44. paresh s says:

    I want excel base utility to upload bulk 15ca as per format given by nsdl

  45. Nancy says:

    My company has supported a transaction between two foreign parties as a liasoner. Actually, we had arranged sale to one of them from other. We are going to give expenses bill to that party as liasoning expnse.

    1. Wherher the service here can be said to done in india?

    2. Is service tax to be charged on such bill?

    3. I have heard that” the term “Liasoning” is not covered under service tax ? is it trur

    Please if any one has idea …can reply me and plz give the relevant section also…

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