15ca/15cb
if a person need to trf $1100 for his CFA level 1 fees, does he need to complete the formalities of 15 CA/CB taking into consideration the amendments made by Finance Act 2015
Replies (2)
Section 195 (6) of Income Tax Act, 1961 as amended by Finance Act, 2015 provides that Form 15 CA/CB is required to be furnished whether payment to non resident is chargeble to tax under provisions of Income Tax Act, 1961 or not.
However, Sl. No. 14 of Explanation - 2 of rule 37BB has specifically excluded "Travel for education (including fees, hostel expenses etc.)" from furnishing 15 CA/CB.
In my opinion, 15CA/CB is not required to be furnished for payment of CFA fees.
Thank you so much sir
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