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15cb & 15ca

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(Querist)
28 January 2014 Hi,

We are going to remit 1.5 lakh to foreign official who come India as a trainee in Finance and accounts department.

Please confirm the tax implications , so that we can fill the 15 CB for your review and attestation.

As per our understanding it is Exempt under :

DTAA—As per Article 20 between India & Germany.

Income Tax act—Section 10 (16) –For Fellowship to German Nationals----Circular No 49 ( XXIII-12) Dated 13 Dec 1956

So no TRC is required.

sp please guide me how to deal for this transaction.



Thanks & Regards
Abhimanyu Singh
Mob. no. 8285392997
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CA Mahavir Shah

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CA Mahavir Shah (Expert)
29 January 2014 Hi Abhimanyu,

As amount exceeds Rs.50000 you need to file Form 15CA.

But to observe other Rules & Regulations of RBI & FEMA, bank requires Form 15CA & CB.

Please feel free to contact us in case of any query.
Regards,
CA Mahavir Shah
Email : camahavir.shah@gmail.com
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