Form 15CB

Essential Documents for Form 15CA/CB Compliance

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...

Demystifying Form 15CA and 15CB: A Guide to Foreign Remittances

Income Tax - Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers....

Understanding Form 15CA and Form 15CB: A Comprehensive Guide

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....

Tax Deducted at Source (TDS): FAQs

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)...

Form 15CA and 15CB explained in simple language

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...

Withdrawal functionality of 15CB forms at e-filing portal

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...

Guidance on uploading of Manually submitted Form 15CA & Form 15CB

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...

Representation to FM on Issues in New Income Tax Portal

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....

Grievances due to newly launched website of Income Tax Department

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 ,...

Relaxation in electronic filing of Income Tax Forms 15CA/15CB

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...

CA Cannot be Prosecuted under PMLA merely for Issuing Form No. 15CB

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...

CBDT further relaxes e-filing of Forms 15CA/15CB

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 ...

CBDT allows manual filing of Form 15CA/15CB till 15.07.2021

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...

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...

Recent Posts in "Form 15CB"

Essential Documents for Form 15CA/CB Compliance

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...

Posted Under: Income Tax |

Demystifying Form 15CA and 15CB: A Guide to Foreign Remittances

Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers....

Posted Under: Income Tax |

Understanding Form 15CA and Form 15CB: A Comprehensive Guide

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....

Posted Under: Income Tax |

Tax Deducted at Source (TDS): FAQs

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)...

Posted Under: Income Tax | ,

Form 15CA and 15CB explained in simple language

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...

Posted Under: Income Tax |

CA Cannot be Prosecuted under PMLA merely for Issuing Form No. 15CB

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...

Withdrawal functionality of 15CB forms at e-filing portal

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...

Posted Under: Income Tax | ,

Guidance on uploading of Manually submitted Form 15CA & Form 15CB

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...

Posted Under: Income Tax |

New Re-engineered Form 15CA & 15CB Submission Process

Income-tax Department has introduced a completely new re-engineered Form 15CA and Form 15CB submission process based on various feedbacks provided by numerous corporates and professionals all over India. These transformations will simplify the preparation, assignment, submission, and verification process involved in the entire filing cycl...

Posted Under: Income Tax |

Taxation in light of Significant Economic Presence

Non-residents are subject to tax in India with respect to the income accrued/ deemed to accrue in India or received/ deemed to be received in India as per the provisions of the Income Tax Act, 1961 (‘Act’). While the international tax landscape is seeing a lot of changes in form of OECD BEPS Pillar 1 […]...

Posted Under: Income Tax |

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