i am doing the audit of a private Ltd. trading company(A registered indian company without any branch in foreign country).In this payment of Rs 90000 has been made during the year to a non resident. A certificate has been shown to me in form no. 15CB(Rule 37 BB)(Section 195 sub section 8) which certified by a chartered accountant firm which assures that payment may be made to non resident without deducting T.D.S. Is it corret to make payment without deducting T.D.S. if certificate in form no 15 CB has shown to me?
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Payment to non resident without deducting t.d.s.
Replies (3)
TDS depend upon nature of transcation,certain transction are not labile to tds
please clerify nature of transction,it also depend DTAA agreement
Payment has been made for the consultancy service
Dear Mr. Saurabh,
As per Income tax act 1961.
TDS
Person making the payment shall furnish information relating to the payment of any sum in the Form 15CA after obtaining CA certificate in Form 15CB.(w.e.f. 01.04.2008)
And
Form 15CA can be signed by the person authorised to sign the return of income of the remitter or the person so authorised by him in writting.
The duly signed form 15CA and Form 15CB will be submitted in duplicate to RBI/ Authorized Dealer. RBI/ Authotized Dealer will in turn forward a copy the certificate and Undertaking to the Assessing Officer concerned.
In short that is ok they are showing u Form 15CB. And you can ask for Form15CA for more detail and surety.
just let me know is I m right or wrong.
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