FIVE STEPS TO FURNISH 15
CA and 15 CB
No remittance should be
made to a non resident without furnishing an undertaking in Form 15CA along
with a certificate from an accountant in Form 15CB except in cases of certain
personal remittances (which have been specifically exempted).If any payment
including any interest or salary or any other sum chargeable to tax, is made to
non-resident, not being a company, or to a foreign company then Form 15CA and
Form 15CB are applicable.
Form 15CA has two Parts :
Part A - Applicable if
the remittance to non-resident or to a foreign company does not exceed
Rs.50,000 per transaction and aggregate payment made during the financial year does
not exceed Rs. 2,50,000.
Part B – Applicable if
the remittance is chargeable to tax and exceed Rs. 50000 per
transaction and aggregate of such payments made during the financial
year exceeds Rs.2,50,000.
Information required for
furnishing of the form 15CA and 15CB
Part A - Form 15 CA
requires :
§ Particulars of Remitter, Remittee, Remittance made and TDS
§ Mandatory to furnish PAN of Remitter, if tax is deducted then
TAN of the Remitter also needs to be provided. If remittance is chargeable to
tax and PAN of remittee is not available Section 206AA is mandatorily applicable.
§ E-mail and Phone Number of remittee to be furnished,
if available.
Part B - Form 15 CA
requires :
§ Taxability under the Income Tax Act
§ Taxability under the relevant DTAA. Details of TRC (Tax
Residency Certificate)
Steps of furnishing the
Form 15CA:
Step 1: Remitter shall obtain Form
15CB from a chartered accountant a certificate.
Step 2: login to site incometaxindiaefiling.gov.in/ – Login ID is same,
which has been used for filling e-return. Remitter
shall electronically upload Form 15CA on the website – With effect from February 12, 2014, the foreign remittance details in
Form 15CA on the e-filing portal at www.incometaxindiaefiling.gov.in.
Step 3: The form 15CA shall be filled on the basis of the information
contained in form 15CB. Form 15CB is
not required in case of filling Part A of the form 15CB. Either of the below are to be
obtained for filling up Part B of Form
15CA:
§ a certificate in form no. 15cb from a chartered accountant or
§ a certificate from the Assessing Officer (AO) under Sec 197 or
§ an order from Assessing Officer under sub-sec (2) or sub-section
(3) of sec 195
Step 4: 15CA form available under e-filling menu as “prepare & submit the
others forms (other than return)”
Step 5: Digital Signature is required to generate the 15CA forms and take
printout and affix company stamp and submit it to Authorized dealer i.e.Banker Then the RBI/ Authorized dealer remits the amount and forwards
to the assessing officer a copy of form 15 CA and form 15CB.
Contributed by Shiwali Shukla and Tanya Gagneja
Contributed by Shiwali Shukla and Tanya Gagneja
