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Form 15ca for local remittance

15 December 2015

We need to file Form 15CA and 15CB for remittances under section 195 to non residents. In case of remittance is Indian rupees to NRI with full TDS deduction of 30.9% to their NRE ordinary account. Do we still have to file 15CA and 15CB. If so, we have to enter amount in foreign currency. Which currency to be used. Since it is a monthly rent, can we file one form 15CA for the entire year. Please clarify

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J. K. Ratan (Compliance Advisor) (794 Points)
Replied 15 December 2015

Dear Sir

1 :- From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA to the income tax department.

2 :- Indian Earnings (like Salary, Rent, Interest) can't be deposit directely in NRE.

3 :- You will have to use foreign currency of his living country.

4 :- If your remittance is less than 50000 in single payment or less than 250000 in the whole year than form 15CB is not require from Chartered Accountant. But Form 15CA will have to be uploaded mandatorily.

5 :- If your single payment is more than INR 50000 than you will have to obtain for 15CB from a Practicing CA and form 15CA part B will have to filled with Income Tax Department every time makig payment to NRI

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