Income Tax - Introduction: When engaging in foreign remittances, it is vital to understand the specific documentation requirements for issuing Form 15CA/CB. These forms play a critical role in ensuring Tax Deducted at Source (TDS) compliance, and choosing between the Income Tax Act and DTAA can significantly impact your obligations. In this article, w...
Income Tax - Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers....
Income Tax - In this article, we provide a detailed analysis of Form 15CA and Form 15CB, their purpose, when they are required, and how to file them. Discover the mandatory information needed for filing and the transactions exempt from Form 15CA. Read on to ensure compliance with tax regulations for remittances to non-residents....
Income Tax - 1) Whether capitalization of interest payable attracts TDS U/S 194A? Whether conversion of out standing interest on loan into loan attracts TDS? Difference between Form-15G and Form-15H? Difference between TDS and TCS? What is due date for remittance of TDS certificates? (Form-16 and Form-16A)...
Income Tax - Form 15CA and Form 15CB are essential forms used in India for making payments to non-residents or foreign entities. Form 15CA and Form 15CB are mandated by the Income Tax Department to ensure that appropriate taxes are deducted and paid on payments made to non-residents. Let’s delve into a detailed explanation of Form 15CA and [&hel...
Income Tax - A large extent of pendency for updation of 15 CB forms at e-filing portal may be attributed to non-availability of any options for their withdrawal from portal...
Income Tax - Guidance on uploading of Manually submitted Form 15CA and Form 15CB with Authorised Dealers between 7th June to 15th August 2021 in accordance with Press Release dt.20th July 2021 In accordance with Press release dated 20th July 2021 issued by Central Board of Direct Taxes (CBDT), functionality for uploading Form 15CA and Form 15CB submit...
Income Tax - We are listing around 38 issues in portal and this is the beginning only because still we are working on preliminary aspects and further issues are bound to arise when we start working with the Portal and make Tax Compliances on behalf of our clients, the valued Tax Payers of the Nation....
Income Tax - fter launching of the website by the Income Tax Department on 07th day of June, 2021 the members are facing the problems as discussed below:- 1. DSC is not getting registered or updated, 2. New Incorporated companies or Firms are not able to register themselves on ITD Portal ,...
Income Tax - As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance. In view of t...
Murali Krishna Chakrala S/o. Muniram Prasad Chakrala Vs Deputy Director (Madras High Court) - While issuing Form No. 15CB a Chartered Accountant is required to only examine the nature of the remittance and nothing more. The Chartered Accountant is not required to go into the genuineness or otherwise of the documents submitted by his clients...
PRID=1737217 - (20/07/2021) - As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer ...
Release ID: 1732843 - (05/07/2021) - In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in, It has now been decided to extend the aforesaid date to 15th July 2021. Ministry of Finance CBDT grants further relaxation in electronic filing of Income Tax Forms...
Notification No. 93/2015 - Income Tax - (16/12/2015) - Notification No. 93/2015 - Income Tax G.S.R. 978(E) dated 16th December, 2015 A CA certificate in Form No. 15CB will be required to be furnished only in respect of such payments made to non-residents which are chargeable to tax and the amount of payment during the year exceeds Rs. 5 lakh. No Form 15...
Murali Krishna Chakrala S/o. Muniram Prasad Chakrala Vs Deputy Director (Madras High Court) -