Form 15CA/CB


*The price is exclusive of any amount payable to Government/Regulatory Authorities and GST.

This service is for filing of Form 15CA/CB in case of foreign remittance

Price 999

Services covered :
  • Submission of form 15CA/CB
  • Interpreting DTAA tax rates

Documents Required :
  • Details of Remitter.
  • Details of Remittee.
  • Details of the Remittance.
  • Bank Details of the Remitter.

FAQ ()

Question : What is Form 15CA?
Answer : Any payments made by a resident to a non-resident has to be reported under the Income Tax Act. The idea behind deduction of the taxes at source and their subsequent reporting is to ensure that taxes are collected on time. Form 15CA is a declaration made by the person remitting the money wherein he states that he has deducted the tax from any payments so made to the non-resident.
Question : What is Form 15CB?
Answer : Form 15CB, however, is not a declaration, but a certificate issued by a Chartered Accountant ensuring that the provisions of the Double Taxation Avoidance Agreement and the Income Tax Act have been complied with in respect of tax deductions while making the payments. It includes the following: • Details and nature of payment made to a Non-Resident. • Compliance with Section 195 of the Income Tax Act. • Rate of TDS deducted. • Applicability of the Double Taxation Avoidance Agreement.
Question : What are consequences involved for Non filing of Form 15CA 15CB?
Answer : If an Assessee who is required to file Form 15CA 15CB fails to furnish the same before making remittance to a non-resident, then he has shall be liable to penalty provisions under section 271I of the Income tax Act, 1961. Such Penal provision shall be attracted even if the person furnished inaccurate information. The amount of penalty which the Assessing officer may ask the Assessee to pay for Non- compliance is Rs.1 lakh.
Question : What is the difference between 15CA & 15CB?
Answer : Form 15CA is a declaration of remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This form helps Income Tax Department in tracking foreign remittances & amp; their taxability. As per Rule 37BB, it is a duty of authorized dealers/banks to ensure that such forms are received by them from the remitter.
Question : When payment made is below Rs 5 lakh?
Answer : For such payment’s information is required in Part A of Form 15CA.
Question : When payment made exceeds Rs 5 lakh?
Answer : Part B of Form 15CA has to be provided. Certificate in Form 15CB from an accountant. Part C of Form 15CA.
Question : Can Form 15CA and 15CB be revised or cancelled?
Answer : Yes, Form 15CA can be withdrawn within 7 days from the date of Submission.
Question : Who is authorised to issue form 15CB?
Answer : As per Income Tax Act,1961 only a Chartered Accountant holding certificate of practice is authorized to issue form 15CB
Question : At what rate will TDS be deducted if such income is to be taxed in India as well as in his country of residence?
Answer : Tax has to be deducted based on the provision of DTAA.