Form 15ca

One of my client who is NRI sold his residential flat in India , giving rise to Capital Gain in India. He paid his tax liability as self assessment tax. Now he wanted to transfer the residual sale proceeds (i.e after payment of tax) which is presently lying in his NRO A/c to his NRE A/c.In This regards all the formalities have been complied. The only problem being faced by him is that while filing Form 15 CA TAN No.is compulsory along with PAN No. and he doesn’t have TAN No.

In this regard, being a Professional it is my suggestion that TAN No. should not be made compulsory at least for an individual while filling form 15 CA because it is not justified for an individual to apply for TAN for a single transaction. Previously when Form 15 CA was available on NSDL site ,at that time it was mandatory to write either PAN and / or TAN . But now it is mandatory to write both TAN and PAN which is causing inconvenience to individual’s who does have TAN.

Your comments are welcomed.

INCOME-TAX (FOURTEENTH AMENDMENT) RULES, 2013 - SUBSTITUTION OF RULE 37BB AND FORM NOS. 15CA AND 15CB

NOTIFICATION NO. 67/2013 [F. NO. 149/119/2012-SO (TPL)]/SO 2659(E), DATED 2-9-2013

Furnishing of information by the person responsible for making any payment including any interest or salary or any other sum chargeable to tax, to a non-resident, not being a company, or to a foreign company—(1) Any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest or salary or any other sum chargeable to tax under the provisions of the Act, shall furnish the following, namely:—

(i)		the information in Part A of Form No.15CA, if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees;
(ii)		the information in Part B of Form No.15CA for payments other than the payments referred in clause (i) after obtaining—

(a)

a certificate in Form No. 15CB from an accountant as defined in the Explanation below sub-section (2) of section 288; or

(b)

a certificate from the Assessing Officer under section 197; or

(c)

an order from the Assessing Officer under sub-section (2) or sub-section (3) of section 195.

Explanation 2.—For the removal of doubts, it is hereby clarified that for payments of the nature specified in column (3) of the specified list below, no information is required to be furnished under sub-rule (1).

SPECIFIED LIST

Sl.No.	Purpose code as per RBI	Nature of payment
(1)	(2)	(3)
1	S0001	Indian investment abroad -in equity capital (shares)
2	S0002	Indian investment abroad -in debt securities
3	S0003	Indian investment abroad -in branches and wholly owned subsidiaries
4	S0004	Indian investment abroad -in subsidiaries and associates
5	S0005	Indian investment abroad -in real estate
6	S0011	Loans extended to Non-Residents
7	S0202	Payment- for operating expenses of Indian shipping companies operating abroad.
8	S0208	Operating expenses of Indian Airlines companies operating abroad
9	S0212	Booking of passages abroad -Airlines companies
10	S0301	Remittance towards business travel.
11	S0302	Travel under basic travel quota (BTQ)
12	S0303	Travel for pilgrimage
13	S0304	Travel for medical treatment
14	S0305	Travel for education (including fees, hostel expenses etc.)
15	S0401	Postal services
16	S0501	Construction of projects abroad by Indian companies including import of goods at project site
17	S0602	Freight insurance - relating to import and export of goods
18	S1011	Payments for maintenance of offices abroad
19	S1201	Maintenance of Indian embassies abroad
20	S1 202	Remittances by foreign embassies in India
21	S1301	Remittance by non-residents towards family maintenance and-savings
22	S1302	Remittance towards personal gifts and donations
23	S1303	Remittance towards donations to religious and charitable institutions abroad
24	S1304	Remittance towards grants and donations to other Governments and charitable institutions established by the Governments.
25	S1305	Contributions or donations by the Government to international institutions
26	S1306	Remittance towards payment or refund of taxes.
27	S1501	Refunds or rebates or reduction in invoice value on account of exports
28	S1503	Payments by residents for international bidding".