15ca/15cb

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2013 Hi All,

Please help me in the 15CA/CB matter as its very confusing.

As per my knowledge ,15CB/CA is required when we do foreign payment.

is it also required when we do import.

If true then how it is possible to get issued the 15CB from CA when company is doing payment on daily basis for import?

else please provide me the proper links which say that its nt mandatory for each purchase import.

its very urgent.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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08 October 2013 Pls go thru this,
for the complete clearance of your query..

https://buyerscredit.wordpress.com/2013/08/14/revised-forms-15ca-15cb-payment-to-non-resident/

regards...

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2013 I have already seen this bt getting the points still confused.

Please confirm its for individual only or for foreign companies also.

Please confirm.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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09 October 2013 Furnishing of information by the person responsible for making payment to a non-resident, not being a company, or to a foreign company—(1) The person responsible for making any payment to a non-resident, not being a company, or to a foreign company shall furnish the following, namely:—

(i) the information in Part A of Form No.15CA, if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees;

(ii) the information in Part B of Form No.15CA , if the payment is not chargeable to tax and is of the nature specified in column (3) of the specified list ;

(iii)the information in Part C of Form No.15CA for payments other than the payments referred in clause (i) and clause (ii) after obtaining—

(a)a certificate in Form No. 15CB from an accountant as defined in the Explanation below sub-section (2) of section 288; or

(b)a certificate from the Assessing Officer under section 197; or

(c)an order from the Assessing Officer under sub-section (2) or sub-section (3) of section 195.

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