15 ca & 15 cb

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TARIQUE RIZVI (Querist)

13 December 2017 Can any one let me know please forms knows as 15 CA & 15 CB are uploaded for what purpose. Some one has told me that the said forms are available on income tax site and are not related with income tax department. These forms are uploaded for remitting commission in foreign currency to the commission agent staying abroad. My query is as follows:

1) Whether forms 15 CA will be certified by CA ?
or

2) Whether forms 15 CB will be certified by CA ?

I will appreciate your guidelines in this connection.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 December 2017 Form 15CA is a declaration of remitter for giving information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This form helps Income Tax Department in tracking foreign remittances & their taxability. As per Rule 37BB, it is a duty of authorized dealers/banks to ensure that such forms are received by them from the remitter.

Form 15CB: is CA certificate which assessing the changeability under income tax of the remittance & This certificate has been prescribed under section 195(6) of the Income Tax Act and is an alternate channel of obtaining tax clearance apart from certificate from Assessing Officer.
Incase remittance by Individual to which do not required RBI approval under Liberalised remittance scheme
All other remittance required form 15CA &15CB
Commission payment to agent is required form 15CA & 15CB

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TARIQUE RIZVI

TARIQUE RIZVI (Querist)

18 December 2017 Thank u Mr Ramesh for your guidelines but sorry for responding u too late.

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