Why Form 15CA/15CB is required?
A person making the remittance (a payment) to a Non Resident or a Foreign Company has to submit the form 15CA. This form is submitted online. In some cases, a Certificate from Chartered Accountant in form 15CB is required after uploading the form 15CA online.
Applicability - Section 195 of Income tax act, 1961
Sec 195 mandates the deduction of Income tax from payments made to Non Resident. The person making the remittance to non – resident needs to furnish an undertaking (in form 15CA) accompanied by a Chartered Accountants Certificate in Form 15CB.
Information to be required
Details Of Remitter
- Name of the Remitter
- Address of the Remitter
- PAN of the Remitter
- Principal Place of Business of the Remitter
- E-Mail Address and Phone No. Of Remitter
- Status of the Remitter (Firm/Company/Other).
Details Of The Remittee
- Name and Status of the Remittee
- Address of the Remittee
- Country of the Remittee (Country to Which Remittance Is Made)
- Principal Place of the Business of the Remittee.
Details Of Remittance
- Country to Which Remittance Is Made.
- Currency in Which Remittance Is Made
- Amount of Remittance in Indian Currency
- Proposed Date of Remittance.
- Father’s Name of the Signing Person.
- Designation Of The Signing Person.
Documentary evidence required as under:
- Form 10F Duly Filled By the Authorised Person Of The Remittee.
- Tax Residency Certificate From The Remittee (Tax Registration Of The Country In Which Remittee Is Registered).
- Certificate That The Remittee Does Not Have Any Permanent Establishment In India. This Is Mandatory If The Income Is A Business Income And Not Chargeable To Tax As Per DTAA If There Is No P.E In India.