requirment of form 15CB

TDS 952 views 3 replies

CA. Vipin Gupta

Accounts Officer

146 Points Joined May 2009

we are making 80% (of total contract amount)payment to foreighn consultant after deducting TDS u/s 195 and duly obtaining form 15CB & filling form 15CA

For rest of 20% we are creating liability in our books of accounts on 31st march 2010. which will be paid only in may 10 or june 10. for this 20% we also have to deduct tax according to rule (due or paid whichever is earlier)

my question is that whether we have to obtain CA certificate in form 15CB for this remaining TDS (on remaining 20% unpaid) also.

Replies (3)

Dinesh pratap singh

C.A. Final Student

54 Points Joined February 2009

Dear Vipin Dupta Ji,

No nead of certificate in form 15CB at the time of credited of A/c. This form should be required at time of payement.

So in your case no nead of certificate in form 15CB for 20% balance payement as on 31-03-2010 at the time of credit.

Sanket Damodar Karve

Business

179 Points Joined February 2010

Agree with Dinesh

Roodita Gaikwad

Practice

4668 Points Joined November 2024

Yes, for the remaining 20% payment, even though it has not yet been paid, TDS should be deducted at the time the liability is created (as per the rule "due or paid, whichever is earlier"). Since the TDS is applicable, you will need to obtain a CA certificate in Form 15CB for the remaining 20% as well.

Once the TDS is deducted on the liability created, Form 15CA Part C will be required to be filed for the entire payment, including both the 80% already paid and the 20% for which the liability has been created.

To streamline the process and ensure accurate and timely filing, you can use our Excel-based utility to generate Form 15CA and 15CB XML in bulk. This will save you time and ensure compliance with the regulations.