Form 15 cb requirement

Tax queries 367 views 4 replies

Dear all,

I have a doubt regarding the requirement of filing 15CB certificate as the remittance is not chargeable to tax & also amount is Exceeding Rs.5 Lakhs.

in this case, whether 15CB is required to be filed or not??? Kindly suggest me asap.

Replies (4)

An Individual is not required to furnish information in Form 15CA and 15CB for remittance which requires no RBI approval. ... A CA certificate in Form No. 15CB is notrequired to be furnished if payments made to non-residents is not chargeable to tax and the amount of payment during the year does not exceeds Rs. 5 lakh.

Hi Rohit,

Form 15CB is not required for if the remittance is not chargeable to tax (other than payments referred to in rule 37BB(3)) by the person referred to in rule 37BB(2). But u have to file Form 15CA(PART-D) with remitter, remittee & payment details.

In this case, as per Rule, Form 15CB is  not required. However, at the ground level, banks still insist on Form 15CB - you can try to inform them of the new rules but beyond a point, if the bank does not relent, you will have to provide 15CB as well. 

Thanks!

Form 15CA Required in case payment by paypal/Credit account


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