15cb & 15ca

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Abhimanyu (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

CA Mahavir Shah

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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