Regarding Form 15CA & CB
This query is : Resolved
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.
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