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CA Sandeep Kanoi

CBDT has vide  Notification No. 67 of 2013, dated 2 September 2013 revised Rule 37BB of the Income tax Rules, 1962 related to  information which are required to be furnished by a person while making payment to a non- resident. This  information is required to be furnished in Form No. 15CA and a certificate from a Chartered Accountant  is required to be obtained in Form No. 15CB.Further, Form No. 15CA shall be furnished electronically on NSDL website and thereafter a signed copy (in physical form) shall be submitted prior to remitting the amount.

The revised Rule also empowers any tax authority to obtain a copy of Form 15CA from the remitting Bank for the purpose of any proceedings under the Act.

The Form 15CA & 15CB are revised by CBDT with effect from 1st day of October, 2013. As per the revision NSDL should have made available the revised form 15CA on its website and remitter has to get the Form 15CB   in new format as made applicable wef 01.10.2013 to be signed from his CA and submit to the Bank alongwith revised from 15CA,  from which he is getting money remitted.

But even after 8 days of coming into effect of news Form 15CA, NSDL has not yet uploaded the revised format of Form 15CA on its website for online upload of the same and there is no communication regarding the availability of the same neither from the CBDT nor from the NSDL.

Now the Remitter and banks are in a fix. Banks insist on revised Form 15CA and 15CB but since the same are not yet been made available online so remitter are unable to furnish the same. Many of the banks are either refusing to remit or asking to wait for revision of the form to remitter which is resulting in undue harassment and losses to the remitter.

CBDT and NSDL needs to issue a notification in this regard to s0on and save the Assessee/ Remitter from this undue harassment.

Download Revised format of 15CB as applicable from 01.10.2013 in word format (Submitted by CA S. Mahadeven)

Must Read –Revised form 15CA applicable from 01.10.2013 available on e-Filing portal 

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Tags : CA Sandeep Kanoi (229) CBDT (612) Form 15CA (31) international taxation (138) nsdl (106) tin nsdl (47)

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