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Form 15ca & 15cb

Gaurav Jain (ca) (42 Points)

20 September 2013

Is form 15 CA & 15 CB applicable on payments of Imports of Goods from Foreign Country.

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CA. Kunal Lakhotia (ACA) (1006 Points)
Replied 20 September 2013

IT IS ONLY APPLICABLE IN CASE OF REMITTANCE OF ANY AMOUNT IN THE NATURE OF INCOME, IN YOUR CASE, THERE MAY BE PROFIT ELEMENT SO ON A CONSERVATIVE BASIS IT IS ADVISED TO GET 15CA, AND 15CB FROM CA IF AMOUNT IN EXCESS OF 250,000

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 20 September 2013

Dear Gaurav sir,

in my view, the same is not required a certificate under such forms... as its rule says,"any other sum chargeable to tax under the provisions of the Act".. and i don't think you are making payment to foreign company... so, that its income is chargeable under IT act, and as the other party is not required to pay tax under IT act, thus, i think, certificate is not essential in this case...

Best Regards,
CA Lovely Arora
Lovely Arora and Associates
ca.lovelyarora @ gmail.com