Form 15CB

Applicability of Form 15CB for payment towards Import Purchases?

Income Tax - Import Purchases constitute a major part of Indian Economy and payments to overseas supplier are a regular phenomenon in International Banking and remittances are being easily made in the Globalised Banking System. Normally Banks did not demand any CA certificate for making remittances for Import Purchases of goods, however with the chang...

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Whether TRC is required in case of import of Machines?

Income Tax - A new sub-section (4) to section 90 has been inserted by the Finance Act, 2012 w.e.f. 01.04.2013 wherein a non-resident assessee who claims any relief under Double Taxation Avoidance Agreement [DTAA] is required to obtain a Tax Residency Certificate [TRC] from the Government of that country of which he is resident....

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Basic Understanding on Form 15CA and 15CB

Income Tax - Earlier, the person making a remittance to Non-Resident was required to furnish a certificate in specified format circulated by RBI. Basic purpose was to collect the taxes at a stage when the remittance is made as it may not be possible to collect the tax from the NR at a later stage....

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Form 15CA & 15CB, Its Provisions, Related Rules and Filing

Income Tax - Rule 37BB defines the manner to furnish information in form 15CB and making declaration in form 15CA . Why Form 15CA: It a tool for collecting data about foreign remittances. It contains all information in respect of payments made to Non-Residents....

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Form 15CA/CB: An Analysis as to Money of Country in Country only

Income Tax - ‘Desh ka Paisa Desh mai’, ‘Else Pay Tax Government Kee Pocket Mai’. Pocket is the ‘KOSH’ of our motherland ‘BHARATAM’, Purpose is let our country reach at the highest summit as ‘SUBHARATAM’....

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CBDT enable e filing of Form 15CA,15CB, 15CC, 35 & ITRs 1 & 4S

Income Tax - CBDT has made following announcement on its e-filing Portal today one after another and made the New Forms 15CA,15 CB, 15CC and newly Notified Form 35 [FOR appeal with CIT(A)] available for e-filing....

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Offline utility to bulk upload Form 15CA

Income Tax - CBDT has finally recognised the difficulty faced by the importers of services in filing online 15CA and introduced  The Facility to bulk upload Form 15CA is now available as offline utility. The Remitter may use either online or offline utility to upload Form 15CA. Link Form 15CA Information to be furnished for payments, chargeable to [&...

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CBDT relaxes conditions for furnishing of Form 15CA & Form 15CB

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...

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Recent Posts in "Form 15CB"

Applicability of Form 15CB for payment towards Import Purchases?

Import Purchases constitute a major part of Indian Economy and payments to overseas supplier are a regular phenomenon in International Banking and remittances are being easily made in the Globalised Banking System. Normally Banks did not demand any CA certificate for making remittances for Import Purchases of goods, however with the chang...

Read More
Posted Under: Income Tax |

Whether TRC is required in case of import of Machines?

A new sub-section (4) to section 90 has been inserted by the Finance Act, 2012 w.e.f. 01.04.2013 wherein a non-resident assessee who claims any relief under Double Taxation Avoidance Agreement [DTAA] is required to obtain a Tax Residency Certificate [TRC] from the Government of that country of which he is resident....

Read More
Posted Under: Income Tax |

Basic Understanding on Form 15CA and 15CB

Earlier, the person making a remittance to Non-Resident was required to furnish a certificate in specified format circulated by RBI. Basic purpose was to collect the taxes at a stage when the remittance is made as it may not be possible to collect the tax from the NR at a later stage....

Read More
Posted Under: Income Tax |

Form 15CA & 15CB, Its Provisions, Related Rules and Filing

Rule 37BB defines the manner to furnish information in form 15CB and making declaration in form 15CA . Why Form 15CA: It a tool for collecting data about foreign remittances. It contains all information in respect of payments made to Non-Residents....

Read More
Posted Under: Income Tax |

Form 15CA/CB: An Analysis as to Money of Country in Country only

‘Desh ka Paisa Desh mai’, ‘Else Pay Tax Government Kee Pocket Mai’. Pocket is the ‘KOSH’ of our motherland ‘BHARATAM’, Purpose is let our country reach at the highest summit as ‘SUBHARATAM’....

Read More
Posted Under: Income Tax |

How to e-File Form 15CA and 15CB

In this article we have discussed the procedure for e-filing of form 15CA and Form 15CB by remitter and Chartered Accountant using their digital Signature on e-filing website of Income Tax Department i.e. http://incometaxindiaefiling.gov.in...

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Posted Under: Income Tax | ,

New Rules for form 15CA & 15CB- Things to be kept in mind

The new rules for preparation, filing/ issuing forms 15CA and 15CB are effective from 01st April’2016. With these new rules coming into effect significant changes have come into effect for furnishing forms 15CA & 15CB. Some of the key changes for furnishing form 15CA & 15CB that have come into effect from 01st April’2016 are: ...

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Posted Under: Income Tax | ,

CHANGES IN FORM 15CB & 15CA – w.e.f 1st April 2016

Furnishing of Information in Respect of Payments made to the Non-Resident Section 195 of the Income-tax Act empowers the Central Board of Direct Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended vide Notification No. G.S.R. 978(E...

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Posted Under: Income Tax | ,

CBDT enable e filing of Form 15CA,15CB, 15CC, 35 & ITRs 1 & 4S

CBDT has made following announcement on its e-filing Portal today one after another and made the New Forms 15CA,15 CB, 15CC and newly Notified Form 35 [FOR appeal with CIT(A)] available for e-filing....

Read More
Posted Under: Income Tax | ,

CBDT modifies rules related to payments to Non-resident (Form 15CA & 15CB)

Recently the CBDT has modified the rules related to filing of Form 15CA & 15CB through Notification No: 93/2015 Dated: 16/12/2015 . These rules has provided clarification regarding the filing of detail where payment is made in respect of any sum which is not chargeable under the provision of Income Tax Act, 1961 (Act). Further, it has als...

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Posted Under: Income Tax |

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