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Form 15 cb requirement

rohit (Student CA Final ) (21 Points)

17 March 2017

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.

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4 Replies

(Guest)

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.

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Mahesh Bingi (Tax return preparer) (462 Points)
Replied 17 March 2017

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.

Abhinav (CA) (397 Points)
Replied 21 March 2017

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!