Issue of Form No.15CB

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This query is : Resolved

Guest

Guest (Querist)

07 May 2011 Dear Friends / Experts,

Please see the following :

ABC Limited making remittance to XYZ, Italy in the nature of TECHNICAL SERVICE.

TDS amount is borne by ABC Limited, India.

Please see :

Sl. No.11 of Form No.15CB, Tax payable has been grossed up.

The details are given as under in the form :

Gross Amount Rs.749310

TDS 20% Rs.149862

Net Amount Rs.599448
(This Net Amount is the Invoice Value (given in EURO) of XYZ, Italy)

Query

While filling Form No.15CB, for Sl.No.B.2, should I fill the Gross Amount as above.

Ans : ………….

Sl. No.B. 6, TDS Amount as above.(No doubt)

While filling Form No.15CB, for Sl.No.B.8, should I fill the Net Amount as above.

Ans : ………….

For finding out the Euro for Gross amount, I will consider the Invoice Value in Euro of XYZ, Italy and add the Euro determined for TDS.

Ans : ………….

Kindly clarify my above basic queries.

I shall wait for your response.

Thanks.

CA Navin Jain

CA Navin Jain (Expert)

07 May 2011 gross amt -749310

tds - 149862

Actual amount of remittance after TDS -599448

Query

While filling Form No.15CB, for Sl.No.B.2, should I fill the Gross Amount as above.

Ans : ………….-749310

Sl. No.B. 6, TDS Amount as above.(No doubt)

While filling Form No.15CB, for Sl.No.B.8, should I fill the Net Amount as above.

Ans : ………….599448

For finding out the Euro for Gross amount, I will consider the Invoice Value in Euro of XYZ, Italy and add the Euro determined for TDS.

Ans : 599448 only invoice value

CA. Anuj Gupta

CA. Anuj Gupta (Expert)

14 May 2011 While filling Form No.15CB, for Sl.No.B.2, should I fill the Gross Amount as above.
Ans : NO.

While filling Form No.15CB, for Sl.No.B.8, should I fill the Net Amount as above.
Ans : YES.

For finding out the Euro for Gross amount, I will consider the Invoice Value in Euro of XYZ, Italy and add the Euro determined for TDS.
Ans : YES.

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