Form 15CB - Page 2

Grievances due to newly launched website of Income Tax Department

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 ,...

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Posted Under: Income Tax |

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

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...

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Taxpayers may not be able submit Form-15CA & 15CB b/w 31st May to 6th June 2021

The Income Tax Department is going to launch its new e-filing portal www.incometax.gov.in on 7th June, 2021. The existing portal of the Department at www.incometaxindiaefiling.gov.in would not be available to taxpayers as well as other external stakeholders for a brief period of 6 days i.e. from 1st June, 2021 to 6th June, 2021. Taxpayers...

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Applicability of Form No. 15CA and Form No. 15CB

Form 15CA is a declaration of remitter used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This is starting of an effective information processing system which may be utilized by the Income tax Department to independently track the foreign remittances and the...

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Remittance Abroad – Form No. 15CA & Form 15CB – Lucidly Explained 18 FAQs

Q 1. Who has to submit Form 15CA and 15CB? Ans. Any Person, responsible for paying any sum to a Non Resident, not being a Company, or to a Foreign Company, shall furnish Form 15CA and 15CB. Such sums sought to be remitted outside India may be chargeable or may not chargeable to tax in […]...

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Payment Made To Non-Residents In Their Indian Bank Accounts & Form 15CA/15CB

The matter of whether Form 15CB is required for making payments to the Indian Bank account of a non-resident / foreign company is a grey area in the Income-tax law. Various entities have not been filing Form 15CA / 15CB while making payments to Indian Bank account of non-residents / foreign companies, since paying bank does not insist on ...

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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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Furnishing Info of Remittance to Non-Resident- Form 15CB / 15CB

FURNISHING INFORMATION REGARDING REMITTANCE TO NON-RESIDENT A person making payment to a Non-Resident /Foreign entity is required to furnish an undertaking in Form 15CA in digital mode. In some cases, department requires a Certificate From CA, in Form 15CB to be uploaded with the Form 15CA. The relevant provisions have been included in In...

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Some aspects regarding Forms 15CA & 15CB

Some aspects related to forms 15cb & 15ca 1. What is the need of Form 15CB & 15CA? ♦ Person making the remittances to Non-Resident require submitting of Form 15CB & 15CA. ♦ Government has made these provisions to ensure the collection of tax from Non Resident at an earlier stage (when remittance is to […]...

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A brief Study on International Taxation

International taxation in a simple language means the study of Taxation beyond the National Level. Though we all are very much aware about our Indian Taxation Laws but as time is demanding something more so, there is a need to study the taxation at another level....

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