15ca cb on buyers credit

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Navendu Agarwal (Querist)
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05 July 2016 while making repayment of buyers credit to foreign branch of Indian Bank which part of 15CA (Part A, Part B, Part C or Part d) is to be filed. Buyers credit repayment amount includes Pricipal Amount Of Buyer's Credit & Interest.

Please suugest....

Amol S Joglekar

Amol S Joglekar (Expert)
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05 July 2016 you need to decide by yourself or if you are not in a position to decide by yourself, then taking the help of Chartered Accountant, if the said amount is TAXABLE in India.
If it is not taxable, fill part D
If it is taxable, you need to select A or B or C whichever is applicable in your case.

http://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007842.pdf

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 July 2016 The interest payment is taxable in India and subject 195 TDS.

Message likes : 2 times

Navendu Agarwal

Navendu Agarwal (Querist)
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05 July 2016 Dear Seetharaman Sir,
That mean i have to file Form 15CA Part A as i have not obtained order u/s. 195(2) or 195(3) or 197 and interest amount in Indian Rs. is less than Rs.5,00,000/-

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 July 2016 Yes you are right..........

Navendu Agarwal

Navendu Agarwal (Querist)
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05 July 2016 Dear Seetharaman Sir,
Please guide Which purpose code as per RBI is to be selected........while filing Form 15CA Part A for payment of Interest on Buyers Credit to foreign brnach of Indian bank.....

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