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What is Form 15CB?

  • Form 15 CB is Form which is required to be signed by a Chartered Accountant. This is a kind of certification regarding rates and right kind of tax paid by you. Certain details are required from Form 15CB at the time of filing Form 15CA.

  • At first glance it appears that Form 15CA is not required to be filled if the remittance or payment to non-resident Indian is not chargeable to tax.

  • As per Income Tax (Fourteenth Amendment) Rules, 2013, No reporting in Form 15CA and 15CB is to be made in case of the following nature of foreign remittances since October 2013 has been provided in Rule 37BB.

 

Filling Form 15CB:

Information to be required from the client

  • A. Details of Remitter

    • 1. Remitter’s Name

    • 2. Remitter’s Address

    • 3. Remitter’s PAN Number

    • 4. Principal Place of Business of the Remitter

    • 5. E-Mail Address and Phone No. Of Remitter

    • 6. Status of the Remitter (Firm/Company/Other)

  • B. Details of Remittee

    • 1. Name and Status of the Remittee

    • 2. Remittee’s Address

    • 3. Nationality of the Remittee i.e. Place Where Remittance Is Made

    • 4. Business Portfolio of the Remittee

    • Principal Place of the Remittance

  • C. Details of the Remittance

    • 1. Country to Which Remittance Is Made

    • 2. Currency in Which Remittance Is Made

    • 3. Amount of Remittance in Indian Currency

    • 4. Proposed Date of Remittance

    • 5. Nature of Remittance as Per Agreement (Invoice Copy to Be Asked From Client)

  • D Bank Details of the Remitter

    • 1. Name of Bank of the Remitter

    • 2. Name of Branch of the Bank

    • 3. BSR Code of the Bank

  • E. Others

    • 1. Father’s Name of the Signing Person

    • 2. Designation Of The Signing Person

 

Procedure of filing form 13CB

  • The “Add CA” requisite has to be completed first.

  • Under the “My Account” tab, the “Add CA” option is to be selected.

  • Here, the Membership Number of the CA has to be entered.

  • The Form number is to be entered next as 15CB.

  • Since the CA has now been added successfully, the rest of the process may be completed by the CA himself.

  • The user account of the CA must be registered on the site as a CA and not as a regular account.

  • On the “Downloads” page, the Form 15CB Utility has to be downloaded. This is because the .xml file needs to be uploaded for the successful submission of the Form 15CB.

  • Once the download is complete, the .xml file has to be prepared offline and ready for upload.

  • On the site, under the “e-File” option, click on the “Upload Form” button and enter the following details:

    • PAN of the Assessee

    • PAN of the CA

    • Form Name – 15CB

    • Filing Type – Original

  • Next, the prepared .xml file is to be uploaded and generated through the Utility.

  • The DSC Management Utility has to be downloaded as well. This is beneficial in uploading the Digital Signature File in order for the submission to be complete in all respects.

  • Click on the “Submit” button and await the Success page.

  • View the form:

    • Once the Form 15CB has been uploaded and successfully submitted by the CA, the assessee may then log in and view the form under the “Worklist” tab by selecting the “For Your Information” button.

    • The status of the Form will be displayed as the case may be.

 

 DISCLAIMER- These materials are public information and have been prepared solely for educational purposes. These materials reflect only the personal views of the author and are not individual legal advice.

It is understood that each case is fact specific and that the appropriate solution in any case will vary. Finally, the owner will not be accountable for any loses injuries or damages from the exposures or usage of this information.

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