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Discussion > Income Tax > Tax queries >

Certificate from CA - Form 15CB - Foreign Remittance

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CA & CS


[ Scorecard : 97]
Posted On 30 August 2010 at 10:32 Report Abuse

Hi,

We are a limited company wishing to make payment of rent to a non-resident indian. He obtained lower tax deduction certificate from assessing officer (International Taxation). We are making payment in INR to his NRO account. Whether we need to file Form 15CA? Further, whether we need to obtained CA certificate in Form 15CB as Lower TDS certificate is already available with us? Whether, we need to obtain or file these form for each payment separately for different months or a consolidated certificate can be filed, if Yes When?

Expecting a quick response from learned group members.

Thanks

Chandrashekhar Laddha

+91 99252 37250

 


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CA Navin Jain
MANAGER (FINANCE & ACCOUNTS)


[ Scorecard : 11659]
Posted On 30 August 2010 at 10:54

Dear

You most file form 15CA and must obtained form 15 CB for each payment separately





Chandrashekhar Laddha
CA & CS


[ Scorecard : 97]
Posted On 30 August 2010 at 11:27

Thanks Navin.

There is one provision, which I am reporducing below:

"A remitter who has obtained a certificate from the assessing officer regarding the rate at or amount on which the tax is to be deducted is not required to obtain a certificate from Chartered Accountant in Form No. 15CB. However he is required to furnish information in Form No 15CA ..."

As in our case, assessing officer has issued lower tds deduction certificate addressing our company to deduct tax at lower rate, whether in such a case we need to obtain certificate from Chartered Accountant in Form No. 15CB.

Thanks

CA Chandrashekhar Laddha

+91 99252 37250




CA Navin Jain
MANAGER (FINANCE & ACCOUNTS)


[ Scorecard : 11659]
Posted On 30 August 2010 at 11:37

The need of obtain  form 15 CB is in the line of complince of tax provision.Therefore form 15CB must be obtained.

in your case your company having  low tds rate certificae but  not having Nil rate Certificate.

 

Futher in your case is low tds rate certificate has issued for a limited amount may be rs. 10L, 20L OR 40L.

and if u make the payment to NIR beyound the limit mrntiond in law rate tds certificate then from 15CB must be obtioned




Chandrashekhar Laddha
CA & CS


[ Scorecard : 97]
Posted On 30 August 2010 at 12:05

It is still not clear. I am attaching herewith circular 4/2009 highlighting the relevant text. I request you to please revisit the provisions again. Please also note that Lower rate TDS certificate is for full year rent amount (It covers total rent amount payable during the year). Hence no question of part/partial certificate.

Regards

CA Chandrashekhar Laddha

+91 99252 37250



Attached File : 20 income tax circular no 4 2009.doc downloaded 240 times

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