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Applicability of Form 15CA and 15CB w.e.f 01/10/2013

CA. Anuj Gupta 
on 10 September 2013

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CBDT has again changed the Rule 37BB of Income Tax Rule and \the new rule will help the Indian Parties remitting/paying the monies to foreign persons/companies. Now it has been provided  that in case of 28 types of payments , there shall be no need to submit Form 15CA or obtaining Form 15CB.

What are the List of Payments Exempt from Filing of Form 15CA?

The Rule 37BB also contains a Specified List on which Rule 37BB(1) does not apply. This is cleared in the Rule itself by adding an explanation 2 as under

Explanation 2.—For the removal of doubts, it is hereby clarified that for payments of the nature specified in column (3) of the specified list below, no information is required to be furnished under sub-rule (1).

Here is the list of 28 Types of Payments

SPECIFIED LIST:

Sl. No.
(1)

Purpose code as per RBI
(2)

Nature of payment
(3)

1

S0001

Indian investment abroad -in equity capital (shares)

2

S0002

Indian investment abroad -in debt securities

3

S0003

Indian investment abroad -in branches and wholly owned subsidiaries

4

S0004

Indian investment abroad -in subsidiaries and associates

5

S0005

Indian investment abroad -in real estate

6

S0011

Loans extended to Non-Residents

7

S0202

Payment for operating expenses of Indian shipping companies operating abroad.

8

S0208

Operating expenses of Indian Airlines companies operating abroad

9

S0212

Booking of passages abroad – Airlines companies

10

S0301

Remittance towards business travel.

11

S0302

Travel under basic travel quota (BTQ)

12

S0303

Travel for pilgrimage

13

S0304

Travel for medical treatment

14

S0305

Travel for education (including fees, hostel expenses etc.)

15

S0401

Postal services

16

S0501

Construction of projects abroad by Indian companies including import of goods at
project site

17

S0602

Freight insurance – relating to import and export of goods

18

S1011

Payments for maintenance of offices abroad

19

S1201

Maintenance of Indian embassies abroad

20

S1202

Remittances by foreign embassies in India

21

S1301

Remittance by non-residents towards family maintenance and savings

22

S1302

Remittance towards personal gifts and donations

23

S1303

Remittance towards donations to religious and charitable institutions abroad

24

S1304

Remittance towards grants and donations to other governments and charitable institutions established by the governments.

25

S1305

Contributions or donations by the Government to international institutions

26

S1306

Remittance towards payment or refund of taxes.

27

S1501

Refunds or rebates or reduction in invoice value on account of exports

28

S1503

Payments by residents for international bidding”.


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