Some Facts relating to Form 15CA and 15CB

All about Form 15CA and Form 15CB:

Under Section 195 of Income tax Act, 1961, every making a payment to non-residents are liable to deduct TDS from such if the amount is taxable and chargeable under the Income tax Act. The applicable tax is to be to be deducted by the remitter and a declaration through Form 15CA and Form 15CB must be filed. A person making such type of remittance has to submit the form 15CA online. Also in certain circumstances, along with the Form 15CA, a Certificate from the Chartered Accountant in form 15CB is required too.

Also Read- Form 15CA and 15CB

Information to be furnished in Form 15CA and Form 15CB:

The details related to the remittance, the remitter and the remittee have to be provided in the Form 15CA and Form 15CB. These informative details along with supportive documents are described as follows-

1. Details of Remitter:

• Name of the Remitter
• Address of the Remitter
• PAN of the Remitter
• Address of principal place of business operation
• E-mail Address and mobile No. of Remitter
• Status of the organization of Remitter (Firm/ Entity/ Company/ Other)
• Digital Signature of Remitter for submission of Form 15CA
• Name of the Bank of Remitter
• Branch name of the Bank
• BSR Code of the Bank

2. Details of Remittee:

• Name of the Remittee
• Status of the Remittee
• Address of the Remittee
• Principal Place of Business
• Country of the Remittee

3. Details of Remittance:

• Country where the Remittance is transferred to
• Currency
• Amount of Remittance in INR
• Proposed Date of Remittance
• Nature of Remittance as per the Invoice Copy or the Agreement