15CB requirement

15 CB is required only in case where TDS is required to be deducted. But, Some banks have policy to demand 15CB in each payment.

As per revised rules effective from 1st April 2016. The significant changes are as follows –

Form 15CA and 15CB will be NOT be required to be furnished by an individual for remittance, which does not require RBI approval

List of payments of specified nature mentioned in Rule 37BB, which do not require submission of Forms 15CA and 15CB, has been expanded from 28 to 33 including payments for imports.

Form No. 15CB will only be required for payments made to non-residents, which are taxable and if the payment exceeds Rs. 5 lakhs.