{"id":835,"date":"2015-12-21T07:26:42","date_gmt":"2015-12-21T01:56:42","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=835"},"modified":"2022-01-31T13:39:19","modified_gmt":"2022-01-31T08:09:19","slug":"corporate-and-professional-update-december-15-2015","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/","title":{"rendered":"Amended rules for submission of Form 15CA &#038; 15CB"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d2931969ea1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d2931969ea1\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Amended_rules_for_submission_of_Form_15CA_15CB\" title=\"Amended rules for submission of Form 15CA &amp; 15CB\">Amended rules for submission of Form 15CA &amp; 15CB<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Brief_requirement_of_15CA_and_15CB\" title=\"Brief requirement of 15CA and 15CB?\">Brief requirement of 15CA and 15CB?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#What_is_Form_15CA\" title=\"What is Form 15CA?\">What is Form 15CA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#What_is_Form_15CB\" title=\"What is Form 15CB?\">What is Form 15CB?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Applicability_of_15CA\" title=\"Applicability of 15CA\">Applicability of 15CA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Kind_of_Parts_in_the_Form_15CA\" title=\"Kind of Parts in the Form 15CA\">Kind of Parts in the Form 15CA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#FAQs_On_Form_15CA_CA_certificate_Form_15CB\" title=\"FAQ\u2019s On Form 15CA &amp; CA certificate Form 15CB\">FAQ\u2019s On Form 15CA &amp; CA certificate Form 15CB<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Q1_What_are_the_details_required_for_filling_Form_15CA_15CB\" title=\"Q1. : What are the details required for filling Form 15CA 15CB?\">Q1. : What are the details required for filling Form 15CA 15CB?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Ans_Here_are_all_the_details\" title=\"Ans : Here are all the details\">Ans : Here are all the details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Q2_When_the_Person_required_to_made_payment_is_made_below_Rs_5_lakh\" title=\"Q2. When the Person required to made payment is made below Rs 5 lakh\">Q2. When the Person required to made payment is made below Rs 5 lakh<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Q3_When_a_person_required_to_make_payment_is_made_more_than_Rs_5_lakh\" title=\"Q3. When a person required to make payment is made more than Rs 5 lakh\">Q3. When a person required to make payment is made more than Rs 5 lakh<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Q4_Where_payment_is_not_subject_to_tax_under_the_IT_Act\" title=\"Q4. Where payment is not subject to tax under the IT Act\">Q4. Where payment is not subject to tax under the IT Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Q5_What_are_the_implications_for_the_non-filing_of_Form_15CA_15CB\" title=\"Q5. What are the implications for the non-filing of Form 15CA 15CB?\">Q5. What are the implications for the non-filing of Form 15CA 15CB?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-december-15-2015\/#Q6_Can_be_revised_or_canceled_Form_15CA_Form_15CB\" title=\"Q6 Can be revised or canceled Form 15CA Form 15CB\">Q6 Can be revised or canceled Form 15CA Form 15CB<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><\/h2>\n<figure id=\"attachment_13358\" aria-describedby=\"caption-attachment-13358\" style=\"width: 975px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-New-update-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13358\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-New-update-1.jpg\" alt=\"www.carajput.com: Amendment in Form15CA &amp; 15CB\" width=\"975\" height=\"552\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-New-update-1.jpg 800w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-New-update-1-300x170.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-New-update-1-768x435.jpg 768w\" sizes=\"(max-width: 975px) 100vw, 975px\" \/><\/a><figcaption id=\"caption-attachment-13358\" class=\"wp-caption-text\"><span style=\"color: #ffffff;\">www.carajput.com: Amendment in Form15CA &amp; 15CB<\/span><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Amended_rules_for_submission_of_Form_15CA_15CB\"><\/span>Amended rules for submission of Form 15CA &amp; 15CB<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Rule 37BB of the IT Rules amended w.e.f.1st April 2016 to bring Major Changes in the Requirements of Form 15CA &amp; 15CB and Foreign remittances covered under Sec 195: The Income Tax Depart amended the rules for the preparation and submission of Form 15CA &amp; Form 15CB. The revised rules became effective as of 1.04.2016. The big changes are as follows<\/p>\n<ul>\n<li><span style=\"color: #000080;\">Form 15CA &amp; 15CB not to be furnished by an individual for remittance which does not require RBI approval.<\/span><\/li>\n<li><span style=\"color: #000080;\">CA certificate in Form No.15CB will be required for taxable payments exceeding Rs.5 Lac made to non-residents during a Financial Year.<\/span><\/li>\n<li><span style=\"color: #000080;\">The list of payments of a specified nature referred to in Rule 37BB, which do not require the submission of Forms 15CA and 15CB, has been extended from 28 to 33, which include payments for imports <\/span><span style=\"color: #000080;\">details mentioned below:\u00a0<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Brief_requirement_of_15CA_and_15CB\"><\/span><span style=\"color: #000080;\"><strong>Brief requirement of 15CA and 15CB?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_13292\" aria-describedby=\"caption-attachment-13292\" style=\"width: 823px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/Applicability-of-Form-15CA-and-15CB-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13292\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/Applicability-of-Form-15CA-and-15CB-1.jpg\" alt=\"www.carajput.com; Applicability of Form 15ca 15 CB\" width=\"823\" height=\"435\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/Applicability-of-Form-15CA-and-15CB-1.jpg 600w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/Applicability-of-Form-15CA-and-15CB-1-300x159.jpg 300w\" sizes=\"(max-width: 823px) 100vw, 823px\" \/><\/a><figcaption id=\"caption-attachment-13292\" class=\"wp-caption-text\"><span style=\"color: #ffffff;\">www.carajput.com; Applicability of Form 15ca 15 CB<\/span><\/figcaption><\/figure>\n<ul>\n<li>Form15CA is a declaration issued by the Remitter and is used as a tool by statutory authorities to collect information on payments that are subject to tax in the hands of non-resident recipients.<\/li>\n<li>Form15CB-A person who makes a payment must receive a certificate from a chartered accountant in the form 15CB.<\/li>\n<li>A person seeking to make a payment to a non-resident or foreign company must conform to the requirements of Form 15CA &amp; 15CB.<\/li>\n<li>Form15CB is the Income Tax Determination Certificate where the issuer Chartered Accountants examines the remittance as per the provisions of the IT Act 1961 &amp; the provisions of the DTAA with the Recipient&#8217;s Residence Country.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Form_15CA\"><\/span><span style=\"color: #000080;\"><strong>What is Form 15CA?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Certain payments made by a resident to a Non-resident must be made under the IT ACT 1961. The concept behind the deduction and subsequent reporting of taxes at the source is to make sure that taxes are collected on time. Form 15CA is a declaration made by the person remitting the money, stating that he has TDS from any payments to the non-resident. <a href=\"https:\/\/carajput.com\/press-releases\/details-format-of-form-15ca-of-incometax-depart.pdf\">Details format of Form 15CA\u00a0<\/a><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Form_15CB\"><\/span><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/publications\/new-registration-process-for-filing-form-15ca-and-15cb.pdf\"><strong>What is Form 15CB?<\/strong><\/a><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_13359\" aria-describedby=\"caption-attachment-13359\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/15CB-means-final-1024x457-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13359\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/15CB-means-final-1024x457-1.jpg\" alt=\"www.carajput.com: Introduction of Form15CA &amp; 15CB\" width=\"1024\" height=\"457\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/15CB-means-final-1024x457-1.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/15CB-means-final-1024x457-1-300x134.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/15CB-means-final-1024x457-1-768x343.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/15CB-means-final-1024x457-1-800x357.jpg 800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption id=\"caption-attachment-13359\" class=\"wp-caption-text\"><span style=\"color: #ffffff;\">www.carajput.com: Introduction of Form15CA &amp; 15CB<\/span><\/figcaption><\/figure>\n<p>Form 15CB, fortunately, is not a declaration, but a certificate issued by the Chartered Accountant to ensure that the provisions of the Double Taxation Avoidance Agreement and the Income Tax Act were complied with in respect of tax deductions while making payments. Contains the following details<\/p>\n<ul>\n<li>Information &amp; nature of payment made to a non-resident.<\/li>\n<li>Compliance with Article 195 of the I T Act 1961.<\/li>\n<li>Rate of TDS Deducted.<\/li>\n<li>Applicability of the DTAA.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Applicability_of_15CA\"><\/span><span style=\"color: #000080;\"><strong>Applicability of 15CA<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_13293\" aria-describedby=\"caption-attachment-13293\" style=\"width: 820px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/form-15ca-and-15cb-a-complete-guide-18-63812-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13293\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/form-15ca-and-15cb-a-complete-guide-18-63812-1.jpg\" alt=\"www.carajput.com; form-15ca-and-15cb-a-complete-guide\" width=\"820\" height=\"593\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/form-15ca-and-15cb-a-complete-guide-18-63812-1.jpg 633w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2020\/05\/form-15ca-and-15cb-a-complete-guide-18-63812-1-300x217.jpg 300w\" sizes=\"(max-width: 820px) 100vw, 820px\" \/><\/a><figcaption id=\"caption-attachment-13293\" class=\"wp-caption-text\"><span style=\"color: #ffffff;\">www.carajput.com; form-15ca-and-15cb-a-complete-guide<\/span><\/figcaption><\/figure>\n<ul>\n<li>If the amount of the remittance is not tax-chargeable, then-No Forms 15CA are required.<\/li>\n<li>If the remittance falls within the scope of the prescribed exemption list, only Part D of Form 15CA shall be submitted.<\/li>\n<li>Where the remittance in a particular financial year is less than INR 5,00,000\/\u2013 Only Form 15CA\u2014Part A to be submitted<\/li>\n<li>Unless the remittance exceeds INR 5,00,000\/\u2013 Form 15CA \u2013 Part C and Form 15CB to be issued<\/li>\n<li>Where even the remittance exceeds Rs. 5 lakhs and the certificate referred to in Section 195(2)\/195(3)\/197 of the Income Tax has been obtained Form 15CA \u2013 Part B that is to be submitted.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Kind_of_Parts_in_the_Form_15CA\"><\/span><span style=\"color: #000080;\"><strong>Kind of Parts in the Form 15CA<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<figure id=\"attachment_13360\" aria-describedby=\"caption-attachment-13360\" style=\"width: 983px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-a-complete-guide-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-13360\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-a-complete-guide-1.jpg\" alt=\"www.carajput.com: Form15CA &amp; 15CB Applicability from 1st april\" width=\"983\" height=\"737\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-a-complete-guide-1.jpg 638w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/form-15ca-and-15cb-a-complete-guide-1-300x225.jpg 300w\" sizes=\"(max-width: 983px) 100vw, 983px\" \/><\/a><figcaption id=\"caption-attachment-13360\" class=\"wp-caption-text\"><span style=\"color: #ffffff;\">www.carajput.com: Form15CA &amp; 15CB Applicability from 1st April<\/span><\/figcaption><\/figure>\n<p>The form is divided into 4 parts to be filled out on the basis of a circumstance that is relevant at the time. There are 4 parts \u2013<\/p>\n<p><span style=\"color: #000080;\"><strong>Part B of 15CA<\/strong><\/span><\/p>\n<ul>\n<li>To be completed when the Certificate under Section 195(2)\/195(3)\/197 of the Income Tax Act has been obtained from the Assessing Officer.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Part C of 15CA<\/strong><\/span><\/p>\n<ul>\n<li>To be filled if the remittance or its cumulative exceeds INR 5,00,000\/- in the FY. and the remittance is subject to tax.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>Part D of 15CA<\/strong><\/span><\/p>\n<ul>\n<li>If, as issued for in domestic law, the remittance is not subject to income tax.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"FAQs_On_Form_15CA_CA_certificate_Form_15CB\"><\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.caindelhiindia.com\/blog\/form-15ca-and-form-15cb-certificate\/\"><strong>FAQ\u2019s On Form 15CA &amp; CA certificate Form 15CB<\/strong><\/a><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Form15CA15CB_Procedure.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-10072\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Form15CA15CB_Procedure.jpg\" alt=\"\" width=\"745\" height=\"543\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Form15CA15CB_Procedure.jpg 955w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Form15CA15CB_Procedure-300x219.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Form15CA15CB_Procedure-768x560.jpg 768w\" sizes=\"(max-width: 745px) 100vw, 745px\" \/><\/a><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Q1_What_are_the_details_required_for_filling_Form_15CA_15CB\"><\/span><span style=\"color: #000080;\"><strong>Q1. : What are the details required for filling Form 15CA 15CB?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Ans_Here_are_all_the_details\"><\/span><span style=\"color: #000080;\"><strong>Ans : Here are all the details<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The person responsible for making the payment to a non-resident or a foreign company must provide the following details<a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Details-required-to-file-the-forms-15CA-15CB-1024x522-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13361\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Details-required-to-file-the-forms-15CA-15CB-1024x522-1.jpg\" alt=\"www.carajput.com: Details-required-to-file-the-forms-15CA-15CB\" width=\"1024\" height=\"522\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Details-required-to-file-the-forms-15CA-15CB-1024x522-1.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Details-required-to-file-the-forms-15CA-15CB-1024x522-1-300x153.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Details-required-to-file-the-forms-15CA-15CB-1024x522-1-768x392.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Details-required-to-file-the-forms-15CA-15CB-1024x522-1-800x408.jpg 800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/p>\n<p><span style=\"color: #ffffff;\">www.carajput.com: Details-required-to-file-the-forms-15CA-15CB<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Q2_When_the_Person_required_to_made_payment_is_made_below_Rs_5_lakh\"><\/span><span style=\"color: #000080;\"><strong>Q2. When the Person required to made payment is made below Rs 5 lakh<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>Information on such payments is needed in Part A of Form 15CA<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Q3_When_a_person_required_to_make_payment_is_made_more_than_Rs_5_lakh\"><\/span><span style=\"color: #000080;\"><strong>Q3. When a person required to make payment is made more than Rs 5 lakh<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>Certificate from the Accountant in Form 15CB<\/li>\n<li>Form 15CA Part C<\/li>\n<li>Part B of Form 15CA must be provided<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Q4_Where_payment_is_not_subject_to_tax_under_the_IT_Act\"><\/span><span style=\"color: #000080;\"><strong>Q4. Where payment is not subject to tax under the IT Act<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>Form 15CA Part D<\/li>\n<li>In the following circumstances, no information is needed<\/li>\n<li>The remittance shall be made by an individual and shall not require the prior approval of the RBI [as provided for in Section 5 of the FEMA, 1999 (42 of 1999) as set out in Schedule III of the FEMA Regulations, 2000].<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\">As per Rule 37BB: The remittance shall be of the nature specified in the following list:<\/span><\/p>\n<table style=\"height: 1090px;\" width=\"952\">\n<tbody>\n<tr>\n<td><\/td>\n<td>\u00a0 Advance payment against imports<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Payment towards imports-settlement of invoice<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Imports by diplomatic missions<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Intermediary trade<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Imports below INR 5,00,000-(For use by ECD offices)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Travel for pilgrimage<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Travel for medical treatment<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Freight insurance \u2013 relating to import and export of goods<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Payments for maintenance of offices abroad<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Maintenance of Indian embassies abroad<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittances by foreign embassies in India<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittance by non-residents towards family maintenance and savings<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Booking of passages abroad -Airlines companies<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittance towards business travel.<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Travel under basic travel quota (BTQ)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Contributions or donations by the Government to international institutions<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Indian investment abroad -in subsidiaries and associates<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Indian investment abroad -in real estate<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Loans extended to Non-Residents<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Operating expenses of Indian Airlines companies operating abroad<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittance towards donations to religious and charitable institutions abroad<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittance towards grants and donations to other Governments and charitable institutions established by the Governments.<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Payment- for operating expenses of Indian shipping companies operating abroad.<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittance towards personal gifts and donations<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Remittance towards payment or refund of taxes.<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Refunds or rebates or reduction in invoice value on account of exports<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Payments by residents for international bidding.<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Travel for education (including fees, hostel expenses etc.)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Indian\u00a0investment abroad-in branches and WOS (Wholly owned subsidiaries)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Construction of projects abroad by Indian companies including import of goods at project site<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Indian investment abroad -in equity capital (shares)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>\u00a0 Indian investment abroad -in debt securities<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>Postal Services<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<figure id=\"attachment_13362\" aria-describedby=\"caption-attachment-13362\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Procedure-of-Filing-Form-15CA-1024x516-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-13362\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Procedure-of-Filing-Form-15CA-1024x516-1.png\" alt=\"www.carajput.coProcess to -file-the-forms-15CA-15CB\" width=\"1024\" height=\"516\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Procedure-of-Filing-Form-15CA-1024x516-1.png 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Procedure-of-Filing-Form-15CA-1024x516-1-300x151.png 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Procedure-of-Filing-Form-15CA-1024x516-1-768x387.png 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2015\/12\/Procedure-of-Filing-Form-15CA-1024x516-1-800x403.png 800w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption id=\"caption-attachment-13362\" class=\"wp-caption-text\"><span style=\"color: #ffffff;\">www.carajput.coProcess to -file-the-forms-15CA-15CB<\/span><\/figcaption><\/figure>\n<h4><span class=\"ez-toc-section\" id=\"Q5_What_are_the_implications_for_the_non-filing_of_Form_15CA_15CB\"><\/span><span style=\"color: #000080;\"><strong>Q5. What are the implications for the non-filing of Form 15CA 15CB?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>If the Assessor who is supposed to file Form 15CA 15CB fails to provide the same information prior to the transfer to a non-resident, the Assessor shall be liable for penalties regulations in accordance with Section 271I of the I T Act 1961.<\/p>\n<p>Such an unlawful provision shall be attracted even if the person has provided incorrect information. The amount of penalty that the Assessing Officer may ask the Assessor to pay for non-compliance is Rs.1lakhs.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Q6_Can_be_revised_or_canceled_Form_15CA_Form_15CB\"><\/span><span style=\"color: #000080;\"><strong>Q6 Can be revised or canceled Form 15CA Form 15CB<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Yes, Form 15CA may be withdrawn within 7 days from the date of submitting. The respective link to withdraw the file form will be available on the Income-tax portal of the Assessee relevant concerned.<\/p>\n<p>For query or help, contact: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n<p><b>Popular blog:-<\/b><\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/basic-provision-of-form-15cb-15ca\/\">Basic Provision of Form 15CB &amp; 15CA<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/complete-understanding-about-form-15ca-form-15cb\/\">Complete Understanding about Form 15CA, Form 15CB<\/a><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Amended rules for submission of Form 15CA &amp; 15CB Rule 37BB of the IT Rules amended w.e.f.1st April 2016 to bring Major Changes in the Requirements of Form 15CA &amp; 15CB and Foreign remittances covered under Sec 195: The Income Tax Depart amended the rules for the preparation and submission of Form 15CA &amp; Form &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[159],"tags":[3831,3832,9587,3830],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/835"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=835"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/835\/revisions"}],"predecessor-version":[{"id":4717,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/835\/revisions\/4717"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}