Filing of Form 15CA through new Tax Portal

by EzyBiz India Tax & Accounting Consulting Firm

Introduction

Income Tax department has introduced new Income Tax Portal for better user interface and with many new features. However, unfortunately, right from inception, it has been facing many glitches which have defeated the very purpose of its introduction. Most of the forms are unable to be filed through new tax portal.

In the same category, are form for remittance of money outside India i.e. Form 15CA and 15CB. Inability to properly file Form 15CA and 15CB has led to frustrations amongst the tax payer and accordingly, from time to time relief has been provided by CBDT in filing such form in manual manner.

Initially, CBDT has allowed filing of Form 15CA and Form 15CB manually till 30^th June 2021 which was further extended to 15^th July 2021; then again date was extended to 15^th August 2021. Although, post 15^th August 2021, the CBDT has resumed electronic filing of such forms, however, practically it has been seen that still users are facing lot of issues in proper filing of Form 15CA and 15CB.

Filing of Form 15CA

It is an online declaration made by the remitter of money confirming that proper taxes has been deducted while making any payment to the Non Resident.

Form 15 CA is required by the banker to confirm that taxes has been paid on amount to be remitted.

Further, in few cases, proper certificate of Chartered Accountant in form 15CB is required for uploading form 15CA.

There are 4 parts of form 15CA:

Part A- If amount of remittance does not exceed Rs 5 lac in a Financial Year and is chargeable to tax.

Part B- If amount of remittance exceeds Rs 5 lac in a Financial Year and is chargeable to tax. Also, order has been taken from the AO under section 195(2)/195(3)/197

Part C- If amount of remittance exceeds Rs 5 lac in a Financial Year and is chargeable to tax. Also, CA certificate in form 15CB has been obtained.

Part D- If remittance is not chargeable to tax.

Submission of Form 15CA

The entire procedure of submission of form 15CA is online.

First step is to login into tax portal by using user ID and Password.
Second step is to click on “efile”, then “Income Tax Forms”, then “File Income Tax forms”. Then select Form 15CA
Third step is to choose relevant part of form 15CA and fill the required details.
Fourth step is to verify the details on preview page and then click proceed to e-verify.
After successful e-verification, message with acknowledgment number will be displayed.
In case, part C of form 15CA needs to be filled, first of all, CA need to be added whose digital signature will be used for filing form 15CB.
For adding CA, on tax portal, first of all, Login to e-filing portal, click on authorized partners, click on My Chartered Accountants, click Add CA, Enter membership number of the CA and click Add
After filling relevant details in the form, click Yes to submit the form to CA.
CA will submit form 15CB, after which you can either Accept or Reject form 15CA and then click on Submit. For rejecting the form, reason needs to be provided. After accepting the form, further details will be required to be filled.
After accepting the form, form needs to be verified using DSC or EVC
Once form is verified successfully, success message will be displayed with transaction ID and acknowledgement number. Income Tax Return

Filing of Form 15CA and 15CB are compulsory for remittance of money abroad, however, it may be noted that till date of this write up, users are facing lot of difficulty in filing form 15CB through new Income Tax Portal although filing of form 15CA has been enabled on the portal.