Regarding Form 15CA & CB
This query is : Resolved
Quick Summary
15 November 2024
- Assesses is Non Resident
- It having Two Fixed Deposit in India, & Interest on same of 3 years (of each Fixed Deposit) Accrued together but not having Bank account in India. Now it want to Redeemed his Fixed Deposit. Full Amt of Fixed Deposit i.e. (Principal plus Interest) Directly credited to Foreign Bank Account from fixed deposit.
- Total Interest Amt is 596035 & Fixed Deposit Maturity Value is 3178706.
- Sender & Receipt both are Non-Resident.
- Whether Form 15CA or 15CB or Both or any Other Form is applicable ?
- Any Provision of TDS is applicable in such case ? If yes, then on which Amt & at which Rate Provision of TDS Applicable.
- It having Two Fixed Deposit in India, & Interest on same of 3 years (of each Fixed Deposit) Accrued together but not having Bank account in India. Now it want to Redeemed his Fixed Deposit. Full Amt of Fixed Deposit i.e. (Principal plus Interest) Directly credited to Foreign Bank Account from fixed deposit.
- Total Interest Amt is 596035 & Fixed Deposit Maturity Value is 3178706.
- Sender & Receipt both are Non-Resident.
- Whether Form 15CA or 15CB or Both or any Other Form is applicable ?
- Any Provision of TDS is applicable in such case ? If yes, then on which Amt & at which Rate Provision of TDS Applicable.
16 November 2024
Form 15CA and 15CB applicable.
TDS applicable under section 195 30% Plus sc.
TDS applicable under section 195 30% Plus sc.
18 November 2024
1). 30 % PLUS SC U/S 195 , IS APPLICABLE ON INTEREST AMT OF FIXED DEPOSIT OR WHOLE AMT OF FIXED DEPOSIT.
2). IT IS POSSIBLE THAT Full Amt of Fixed Deposit i.e. (Principal plus Interest) Directly credited to Foreign Bank Account from fixed deposit. Because Assesses is not having bank account in India.
2). IT IS POSSIBLE THAT Full Amt of Fixed Deposit i.e. (Principal plus Interest) Directly credited to Foreign Bank Account from fixed deposit. Because Assesses is not having bank account in India.
18 November 2024
1 On interest amount.
2 Check up with bankers.
2 Check up with bankers.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
