HELLO FRIENDS, MY CLIENT HAS TO MAKE THE PAYMENT OF FEES OF HIS SON IN AUSTRALIA THROUGH A BANK AND BANK ASKS FOR FORM NO. 15CA AND 15CB
NOW PLS TELL ME WHAT I ACN GIVE DETAILS IN FORM NO. 15 CB
TDS IS DEDUCTIBLE OR NOT AND IF YES WHAT RATES?
PLS. HELP ME.
I AM IN VERY GREAT NEED.
PLS. REPLY.
I SHALL BE VERY THANKFUL TO ALL.
As per me form 15ca &15cb is only for business transactions not for persone trancsactions. So tell your client to talk with Bank that how could he provide form 15ca & 15cb
R U SURE?
Tell ur client to talk with bank as form 15cb require CA signature. I dont think so everyone use this job to remitt the fund for personel use (like fund for brother, son etc).
Dear Raj,
The bank asks for 15cb even if u transfer the funds from your account in India to your account outside India.You will need to provide the bank with 15ca acknowledgement and 15cb.
You will need to give the following details to your chartered accountant for form 15cb.
1)Name and address of the remitter (your name and address)
2) PAN of the remitter
3) Name of the recipient of the remittance
4) PAN of the recipient
5) Place of business
6)Country to which remittance is made
7) Currency
8) Amount of remittance in foreign currency and in INR
9)BSR code, branch and address of your bank
10)Nature of the remittance
Based on the form 15cb you will have to upload form 15ca and give the acknowledgement to the bank
Regards,
Fatema
THANKS, FATEMA BUT PLS. TELL ME NOW WHAT I CAN WRITE THAT TAX DEDUCTED IS 0. IN THE FORM.OR NOT LIABLE TO DEDUCT THE TDS ON THE FEES OF HIS SON.
HELLO FRIENDS, PLS. ANYBODY TELL ME.
I AM IN GREAT NEED.
HELLO FRIENDS, I AM STILL WAITING FOR THE ANSWERS.
Hi Raj,
I saw the optionsavailable.Mainly they are all related to some or the other incomes.But as your remittance does not fall in any of the income heads,please write the reason as " repatriation of surplus funds" for not deducting TDS.
The moment you chose any of the income head,it means you are accepting that the income is generated in India and TDS is applicable.Instead swim with the current and write it is repatriation of funds.
Regards,
Fatema
i want to remitt 500 usd to uk my bank ask for form 15ca & 15 cb
whereas my remittance is personal
covered in S-1102 personal, cultural services
reply soon
Nature of your remittance, whether it is taxable or how much amount you want to transfer, in case if income, have you obtained any lower tds certificate - decides that nature of form 15CA. Basis on this, it is decided whether form 15CB is required or not.
Banks just give a checklist that they need form 15ca/cb, even if in the case it is not required and then sometimes, they are required to be explained.
Hence, it will depend on case to case.
For professional opinion and submission of forms, you may contact the undersigned
CA Ankit Aggarwal
9999274569
.
In such cases, payment of education fees for a close relative (like a son) is treated as a gift or support and generally qualifies as a personal remittance under RBI’s Liberalised Remittance Scheme (LRS).
As per Section 195, TDS is not deductible on personal remittances for foreign education unless it is a payment for service (e.g., consultancy). However, banks may still require Form 15CB as a compliance formality.
In Form 15CB, you can mention:
Nature of remittance: Support for education expenses
Remittance purpose code: S0305 (Education: studies abroad)
Taxability: Not taxable under Indian Income Tax Act
TDS: Nil
Treaty benefit: Not applicable
To make the process easier, you can use our Excel utility to generate Form 15CA/15CB XML in bulk from Excel, which saves time and reduces manual entry errors.
Supports all parts – A, B, C, D & CB
Easy XML generation from Excel
Bank and portal compatible
Download here: https://xltool.in/15ca-15cb/ | www.xltool.in
In such cases, payment of education fees for a close relative (like a son) is treated as a gift or support and generally qualifies as a personal remittance under RBI’s Liberalised Remittance Scheme (LRS).
As per Section 195, TDS is not deductible on personal remittances for foreign education unless it is a payment for service (e.g., consultancy). However, banks may still require Form 15CB as a compliance formality.
In Form 15CB, you can mention:
Nature of remittance: Support for education expenses
Remittance purpose code: S0305 (Education: studies abroad)
Taxability: Not taxable under Indian Income Tax Act
TDS: Nil
Treaty benefit: Not applicable
To make the process easier, you can use our Excel utility to generate Form 15CA/15CB XML in bulk from Excel, which saves time and reduces manual entry errors.
Supports all parts – A, B, C, D & CB
Easy XML generation from Excel
Bank and portal compatible
Download here: https://xltool.in/15ca-15cb/ | www.xltool.in
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