What is Form 15 CA?

Form 15CA is a testimony of remitter which is used as a tool for accumulating information in regard of payments which are declarable to tax in the hands of recipient non-resident.

What is Form 15CB?

Form 15 CB is a form which is required to be signed by a Chartered Accountant. This is a kind of certification regarding rates and right kind of tax paid by you. Certain details are required from Form 15CB at the time of filing Form 15CA.

When is Form 15 CA CB submitted?

While making payments outside of India requires submission of compliance Form 15CA and 15CB.

What are the parts of Form 15CA?

The form has four parts, to be submitted depends on the condition that is prevalent at
the time.
Part A
To be filled irrespective of whether taxable or not and the remittance or its aggregate does not exceed Rs. 5 lakhs in a financial year.
Part B
To be filled when the Certificate under Section 195(2)/195 (3)/197 of the Income Tax Act has been obtained from the Assessing Officer.
Part C
To be filled when the remittance or its aggregate exceeds Rs. 5 lakhs in a financial year and that remittance are chargeable to tax.
Part D
Is filled when as per the domestic laws, the remittance is not chargeable to tax.

What are the mandatory information required while submitting a Form 15CA and 15CB?

Details of Remitter
a. Name of the remitter
b. Address of the remitter
c. PAN of the remitter
d. Principal place of business of the remitter
e. E-Mail address and phone no. of remitter
f. Status of the remitter (firm/company/other)

Details of Remittee
a. Name and status of the remittee
b. Address of the remittee
c. Country of the remittee (country to which remittance is made)
d. Principal place of the business of the remittee


Details of the remittance
a. Country to which remittance is made
b. Currency in which remittance is made
c. Amount of remittance in Indian currency
d. Proposed date of remittance
e. Nature of remittance as per agreement (invoice copy to be asked from client)


Bank details of the remitter
a. Name of bank of the remitter
b. Name of branch of the bank
c. BSR Code of the bank

Others
a. Father’s name of the signing person

b. Designation of the signing person


Documents from the Remittee
a. Form 10F duly filled by the authorized person of the remittee.
b. Tax residency certificate from the remittee (tax registration of the country in which remittee is registered).
c. Certificate that the remittee does not have any permanent establishment in India.

Can Filed Form 15CA form 15CB be revised or cancelled?

Yes, Form 15CA can be withdrawn within 7 days from the date of Submission.

What are consequences involved for Non filing of Form 15CA 15CB?

Individual shall be liable to penalty provisions under section 271I of the Income Tax Act, 1961.
Even if the person furnished inaccurate information such penal provision shall be attracted. The amount of penalty to pay for Noncompliance is Rs.1 lakhs.

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