Form 15CA & 15CB (Declaration & Certification)

FORM No. 15CA

It is declaration form which is given by the remitter before making the payment to non-resident. In this Form information to be furnished for payments to non-resident like Remitter detail, Remittee detail, amount in foreign currency & Indian currency, nature of remittance and relevant purpose code as per RBI.

Part of Form 15CA

• Part-A:- This part is to be selected in case of remittance is chargeable to tax under Income tax Act, 1961 and the remittance or aggregate of such remittance as the case may be does not exceed of  Rs. 5,00,000/- during the financial year.
• Part-B:- This part is to be selected in case of remittance is chargeable to tax under Income tax Act, 1961 and the remittance or aggregate of such remittance as the case may be exceed of  Rs. 5,00,000/- during the financial year. The certificate/order u/s 195(2)/ 195(3)/ 197 of Income tax Act has been obtained from the AO (Assessing Officer).
• Part-C: – This part is to be selected in case of remittance is chargeable to tax under Income tax Act, 1961 and the remittance or aggregate of such remittance as the case may be exceed of Rs. 5,00,000/- during the financial year and a certificate in Form No. 15CB from an Chartered Accountants has been obtained.
• Part-D: – This part is to be selected in case of remittance is not chargeable to tax under Income tax Act, 1961 (other than payment referred to rule 37BB(3) by the person referred to rule 37BB(2).

FORM No. 15CB

Form 15CB is a certification which is signed by a Chartered Accountant. It contains all the information in respect of which payment made to Non-resident. The Form 15CB is mandatory in case of payment made to non-resident is chargeable to tax.

Where furnishing of Form 15CB & 15CA is not required

In the following cases furnishing of Form 15CB & 15CA is not required:-

• Form 15CB & 15CA will not be required furnished by an individual for remittance in case of where RBI approval does not required.
• List of payments specified in Rule 37BB which do not require submission of Form 15CA & 15CB has been extend from 28 to 33 including payment for imports.
• CA Certificate in Form 15CB will be required only in case of where such payment made to non-resident is chargeable to tax and amount of payment during the year exceeding of Rs. 5 lakh.

Point to be Noted

Before giving the certificate in Form 15CB & declaration Form 15CA it is required to check whether DTAA made with that country and also carefully read that DTAA.