08 June 2015
Threshold limit for issuing From 15 CB is Rs. 50000 per remittance OR Rs. 250000 in a year. My doubt is- whether the above mentioned Rs. 250000 is total remittance made to one foreign party in a year or all the remittance to various parties taken together in a year?
09 June 2015
Have you gone through the amendments brought in vide Finance Act 2015. The Finance Act, 2015 has amended the provision of section 195(6) of the Act with effect from 1 June 2015. The amended provisions provides that the information relating to payment of any sum, whether or not chargeable under the provisions of the Act, shall be furnished in such form or manner, as may be prescribed. I assume that now onwards all foreign remittance will require supporting 15CB
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