remittance to non resident/foreign company
This query is : Resolved
06 July 2009
Dear Sir,
Is it compulsory to obtain CA certificate for remittance to a non resident or a foreign company even for import of plant & machinery or trading goods in the normal course of business. Please explain various types of payments covered under section 195 (6) of the Income TAx Act,1961. My clent wants to make payment for material it has imported form abroad. Whether form 15CA and 15CB are required to be submitted.
CA Sunil MApara
Dear Sir,
Is it compulsory to obtain CA certificate for remittance to a non resident or a foreign company even for import of plant & machinery or trading goods in the normal course of business. Please explain various types of payments covered under section 195 (6) of the Income TAx Act,1961. My clent wants to make payment for material it has imported form abroad. Whether form 15CA and 15CB are required to be submitted.
CA Sunil MApara
06 July 2009
As per Form 15CA , it is necessary to requried form 15CA for purchase of material also.
But in online filling up of form 15CA, it required nature of remittance, in which there is no option for selection payment for purchase of material , while it is compulsory fillable point. Due to this , this form is not filled completely.
Practically, Bank has not demanded 15CA for import of RM outside.
But in online filling up of form 15CA, it required nature of remittance, in which there is no option for selection payment for purchase of material , while it is compulsory fillable point. Due to this , this form is not filled completely.
Practically, Bank has not demanded 15CA for import of RM outside.
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