Foreign remmitance (15CB)
This query is : Resolved
27 October 2010
Dear friends,
One of my client has approached me to issue CA certficate(15CB) for foreign remmitance to non resident. The nature of payment is commission. The party(Say X) with whom my client had entered into an agreement and receive invoice is from Bangladesh having no PE in India(no PAN). But the Bangladesh party in his invoice has suggested to make payment to another party(say Y)in singapore.
My query:
1) Whether such remmitance is allowed?
2) If yes, than as remittance is made to Y in singapore on behalf of X in Bangladesh, whether I can issue certificate on Y name?
2) TDS to be deducted at 20%?
One of my client has approached me to issue CA certficate(15CB) for foreign remmitance to non resident. The nature of payment is commission. The party(Say X) with whom my client had entered into an agreement and receive invoice is from Bangladesh having no PE in India(no PAN). But the Bangladesh party in his invoice has suggested to make payment to another party(say Y)in singapore.
My query:
1) Whether such remmitance is allowed?
2) If yes, than as remittance is made to Y in singapore on behalf of X in Bangladesh, whether I can issue certificate on Y name?
2) TDS to be deducted at 20%?
20 May 2011
Yes the same is allowed.
Mention in certificate "Y on behalf of X".
No TDS requirement if pure commission income and no PE of Bangladesh Entity in India.
Anuj
0-9810106211
Mention in certificate "Y on behalf of X".
No TDS requirement if pure commission income and no PE of Bangladesh Entity in India.
Anuj
0-9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Correction in TDS return New Traces Portal
- ITC BENEFIT ON BROKRAGE PAID
- F&O reporting in ITR
- DUE DATE FOR ITR FILING
- Gst reverse charge mechanism to be claimed in the month of payment
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
