How To Name Your Business?
Deciding a good name for the business is vitally important and challenging at the same place. There are several other factors which need to be ...Read More
As per CBDT prescribing Form 15CA and Form 15CB to be filed in relation to remittances to non-residents under section 195(6), which requires the person responsible for making payment to a non-resident to furnish information relating to such payments. Currently, remittances to non-residents are allowed by banks if the person making the remittance furnishes an undertaking, accompanied by a certificate from a Chartered Accountant (“CA”) certifying the rate for withholding tax as per section 195 of the Act.
15CA & 15CB process can be complex.
We can make this simple & Hassle Free
Step by step assistance
Oldest NRI firm.
Our services are quick & affordable
Our chartered accountants have years of experience in issuing 15CB certificates, filing 15CA forms, handling the entire case from start to finish and make this confusing procedure of remitting/transferring funds outside India for our clients - easy & quick.
For any information / query regarding 15cb certificates Services, Contact Us
What is Form 15CB?
Any person responsible/ required to transfer funds out of India needs to obtain certificate from Chartered Accountant in Form 15CB. Form 15CB will be given by the chartered accountant to the Clients after checking the TDS on the same. Chartered accountant should check the provision of tractability of payment given to the nonresidentIndian. Chartered accountant should provide tax under income tax act and where DTAA apply tax as per DTAA, tax residence certificate details.
How you Got the 15CB ?
What is Form 15CA?
Form 15CA is an undertaking by the Remitter to be furnished electronically giving details of proposed remittance and tax deducted at source in accordance with the provisions of Section 195(6) of the Income Tax Act, 1961. This undertaking is to be given after obtaining certificate in Form 15CB from a Chartered Accountant.
How you Got the 15CA?
1. Please note that all the above steps have to be undertaken before remittance of money to the non-resident,
2. In case of interest, royalty and technical fees payments Permanent establishment certificate not required.
3. Rate of Tax will be 40% in case of Company or 30% in other cases. Surcharge, EC and SHEC to be added.
What Kind of payment Covered under 15CA & 15CB?
Payments made abroad to Non –Resident: W.e.f. 01-06-2015 if any payment is made by any person to a non-resident, any sum whether or not chargeable to income tax shall furnish form No. 15CA & 15CB.Earlier only income chargeable to income tax in India had to be reported only but now all payments are covered.
Form 15CA needs to be filled all the transaction with non-resident [Sec 195(6)]
What is Provision while payment made through Bank Transfer / Credit Card / Paypal with regard to under 15CA & 15CB compliance?
Special Cases where 15CA CB is applicable and should be taken care of:
Note: That means, any payment to non-resident(either by Bank Transfer / Credit Card / Paypal will now be covered).
What are special cases where compliance under Form 15 CB from Chartered Accountant will not require?
Form 15 CB from Chartered Accountant will not require in certain cases –
How to check the TDS is applicable or not on foreign payments?
How taxability on Commission paid to non-resident?
|Commission for Commercial services||Commission for Technical services|
The said commission is taxable in India under Domestic Law only if
If Yes, NR agent satisfies one of the above conditions than - Commission is Taxable in India, as per (Domestic Law)
Commission is said to in the nature of Technical Service if it is necessary that some sort of managerial, technical or consultancy services should have been rendered.If the above condition is satisfied, then taxability is governed by the Fee for Technical Services (FTS)
Notes: Commission earned by NR would not be taxable in India under Domestic law if all services rendered by NR outside India (i.e. NR do not have any business connection in India as per Sec 9(1)(i)) and income is not received in India. If it is taxable under Domestic Law, we need to claim the benefit of DTAA in which it is not taxable. Now, we need to claim the benefit of DTAA in this case.
What are the penalties under 15CA & 15CB Noncompliance?
Penal Provision: If such information is not furnished or the information furnished is inaccurate then U/s 271-I penalty of Rs. 1 Lakh may be imposed.And If the relevant form is not filled or incorrectly filled, then the penalty of Rs. 1,00,000 can be levied on the assesses.
Private Limited Companies are those types of companies where minimum number of members is two and maximum number is two hundred. A private limited company has the limited liability of members but at the same time it has many characteristics as those of a partnership firm. A private limited company has all the advantages of partnership namely flexibility, greater capital combination of different and diversified abilities, etc., and at the same time it has advantages of limited liability, greater stability and legal entity. In this sense, a private limited company stands between partnership and widely owned public company. Identifying marks of a private limited company are name, number of members, shares, formation, management, directors and meetings, etc., The maximum number of directors shall have to be mentioned in the Articles of Association. In the grand of privileges and exemptions, the Companies Act has drawn a distinction between an independent private company and other private company which is a subsidiary to the other public company.
All the information related to any client is considered confidential and never be disclosed to anyone.
Having years of experience in respective areas and backed by skilled and experienced workforce keep us ahead.
The key to good customer service is building good relationships with clients and ensure a great impression.
Not happy with the service? You can request a refund at anytime within 30 days!.
Get support through phone, email, mobile app or live chat - 24/7, 365 days.
Easily pay online with EMI payments, credit or debit card, net banking, PayPal and more.
Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
A US consultancy group
Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
A Leading Service Provider
We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
A Leading Consultancy Firm in Dubai