Form 15ca and 15 cb

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 sir
i work in govt institute in pune.our bank bank of india is insisting details in form 10F and also tax residency ecrtificate or No permanent establishment certificate from the overseas beneficiaries for every import transaction irrespective of value to be remitted.
this has resulted in lot delay in making payment for import transactions.
parties are telling us to open account in SBi which is not asking for all these documents irresepctive of value and our accounts section says they cannot change the bank.
pl advice how to proceed.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 April 2016 For import payments they should not ask for such documents. Open another account in SBI the bankers familiar with import payment rules.

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Querist : Anonymous

Querist : Anonymous (Querist)

04 April 2016 sir
i was told all bank except sbi is insisting . a i mentioned we cannot change bank or open another account in sbi for import only.. is there any other way.could you pl share list of 33 transaction which do not need any form 15ca or cb .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 April 2016 See the link https://blog.cleartax.in/revised-rules-related-to-submission-of-form-15ca-and-form-15cb/

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