Requirment to issue form 15cb and 15ca
This query is : Resolved
29 April 2014
Dear Sir,
We are require to make payment to the FTWZ units which is an Indian pvt. ltd. co.
As per rule 18(5) of SEZ rules 2006 all the transactions by FTWZ units shall only be in convertible foreign currency.
Bank require form 15CA because it is foreign currency payment.
But as per section 195 form 15CA is required to submit if any payment made to the "NON RESIDENT" not being a company or a foreign co.
As per income tax provision all Indian companies are resident in india unless there whole management and control outside india.
Form 15CB is not obtain because CA refuse to issue certificate because it is payment to resident.
So my question is that whether I have to submit form 15CA after obtaining form 15CB
even this payment is to resident indian.
Give answer with provisions.
Please reply
We are require to make payment to the FTWZ units which is an Indian pvt. ltd. co.
As per rule 18(5) of SEZ rules 2006 all the transactions by FTWZ units shall only be in convertible foreign currency.
Bank require form 15CA because it is foreign currency payment.
But as per section 195 form 15CA is required to submit if any payment made to the "NON RESIDENT" not being a company or a foreign co.
As per income tax provision all Indian companies are resident in india unless there whole management and control outside india.
Form 15CB is not obtain because CA refuse to issue certificate because it is payment to resident.
So my question is that whether I have to submit form 15CA after obtaining form 15CB
even this payment is to resident indian.
Give answer with provisions.
Please reply
Arihanth Jain
(Expert)
08 May 2014
Only payments made to Non Residents require 15ca/cb & rule 37BB complaince.
Otherwise not required.
Otherwise not required.
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- SALARY CAN BE CAPITALIZE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
