13 December 2014
if you mean form 15CA and 15CB under section 195 of income tax act
Finance Act, 2008 inserted a new sub section (6) to section 195 effective from April 1, 2008, which requires the person responsible for making payment to a non-resident to furnish information relating to such payments in forms to be prescribed. The Central Board of Direct Taxes (“CBDT”) has now, by notification No 30/2009 dated March 25, 2009, prescribed a new rule 37BB in the Income Tax Rules, 1962 (“the rules”) prescribing Form 15CA and Form 15CB to be filed in relation to remittances to non-residents under section 195(6) of the Income Tax Act, 1961 (“the Act”). This new rule is effective from July 1, 2009 and shall apply to all remittances being made after July 1, 2009. The process that has to be followed, before any remittance can be made, is as under—
Step 1 : Obtain a certificate from a Chartered Accountant in Form No 15CB
Step 2: Electronically fill Form 15CA on NSDL site and submits it.
Step 3:Take Print out of Form 15CA with system generated acknowledgement number. The same must be signed by person authorised to sign the return of income of the remitter or a person so authorised by him in writing
Step 4: Submit in duplicate Form 15CA and Form 15CB along with Form A2 to Remitting Bank (Authorised Dealer)
Step 5: Bank makes the remittance
Step 6: Bank forwards a copy of undertaking (Form 15CA) and certificate of Accountant (Form 15CB) to Assessing Officer
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