15ca/15cb
can anyone let me know in a short & precise manner about the concept of 15CA & 15 CB with an example, if possible..?
Replies (3)
For remitting money outside India, we have to remit through banks. Banks inorder to remit the amount ask for a certification from Chartered Accountant. Those certifications are the Form 15CA & 15CB.
15CA must be filled in online through logging into Income Tax website.
15CA will be in two parts i.e., Part A & Part B.
15CB must be given by the Chartered Accountant Specifying the number of certificate he has giving.
By submitting these forms to bank, they will remit the amount to the branch outside India.
Recently a Press release by Income Tax dept. on 15CA and 15CB with effect from 01.04.2016
https://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/424/Press-release-Rule-37BB-17-12-2015.pdf
The main idea behind filing Form 15 CA and 15 CB is to ensure that for any overseas remittances, whether any tax needs to be deducted or not.
Thanks for the rply but can u explain me the application of this with one hypothetical example if possible....
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