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15cb

CA. KAPILJAIN (Audit Manager) (105 Points)

11 October 2012

Hi any one can tell me what are the documents need to be maintained and verified when a Chartered accountant issue 15CB.

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10 Replies

Arihanth Jain (Chartered Accountant) (1226 Points)
Replied 11 October 2012

Basically a CA authorises a payment thru form 15cb/ca compliance. So all documents relating to the payment like foriegn invoice, local PO, residency certificate, PE status declaration, TDS entry etc., needs to be verified/documented.

CA. KAPILJAIN (Audit Manager) (105 Points)
Replied 11 October 2012

can i issue 15cb on the basis of invoice only

Arihanth Jain (Chartered Accountant) (1226 Points)
Replied 11 October 2012

Depends on the type of transaction. Can be done.

CA. KAPILJAIN (Audit Manager) (105 Points)
Replied 11 October 2012

my client import software from hong kong for which he remitt the money to the party

software is a copyright article so there is no need to deduct tds

but the invoice does not contain any contact no. of the party & mail Id

it only contains the invoice no , amount , item descripttion, Swift code, Bank account no of the party, date of invoice , name of the party and due date of payment

can i issue 15Cb on these basis

Arihanth Jain (Chartered Accountant) (1226 Points)
Replied 11 October 2012

Without getting into determination of TDS liability, in my view yes if invoice is authentic. However it would be appropriate if you can also get more documents like PO, management declaration etc.,