Procedure to File & View Form 15CA & 15CB – Step by Step

To regularize the payments and to check any illegal foreign money transfers, time and again the government of India came up with various measures, and e-file form 15CA/CB is one of them.

What is Form 15CA?

Form 15CA is a formal declaration made by the remitter and this is used for collecting data in respect of payments made which might be chargeable to income tax. This system of information processing by the Income tax Department to identify the foreign money transfers in the primary stage helps to keep a check on tax evasion activities.

As per rule 37BB, form 15CA is to be filed if the remittance is chargeable to income tax under the income tax act, 1961 and the amount does not exceed INR 5 lakh during the financial year.

Form 15CA contains the information of your remittances to a non-resident not being a company.

How to e-file Form 15CA?

1. Visit the income tax e-filing platform [https://www.incometaxindiaefiling.gov.in/home]

2. Log-in using your unique credentials.

3. Click on the E-file tab of the top right corner and then tap on Income tax forms.

4. Choose form 15CA from the drop-down bar.

5. Fill-up form 15CA and then click on submit.

NOTE:

· Check pre-filed PAN details before submitting them.

· Mandatory to submit Form 15CB prior to form 15CA.

· Acknowledgment no. of form 15CB needs to be filed in form 15CA.

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What is Form 15CB?

A chartered accountant plays an important role in the completion of Form 15CB. Form 15CB needs to be signed by the certified chartered accountant. This certifies that the documents are being assessed by the chartered accountant and the taxes are being paid on the aforesaid Income. Certain details are required from Form 15CB at the time of submitting Form 15CA.

How to e-file form 15CB?

Form 15CB requires a chartered accountant to verify details and certify. You can reach out to online CA Services to get your form 15 CB certificate. The best way for instant response, affordable and great service is to make a request here https://www.caonweb.com/15ca-15cb-certificate.php

PAYMENTS WHERE E-FILE FORM 15CA/CB IS NOT REQUIRED?

1. Indian investment abroad:

· Branches and wholly-owned subsidiaries

· Subsidiaries and associates

· Equity capital (shares)

· Debt securities

· Real estate

2. Remittances:

· Donations to religious and charitable institutions abroad

· Towards family maintenance and-savings

· Personal gifts and donations

· Payment or refund of taxes

· Foreign embassies in India

· Business travel

3. Travel

· Basic travel quota (BTQ)

· Medical treatment

· Pilgrimage

· Education

4. Operating expenses of Indian Airlines/shipping companies operating abroad

5. Refunds or rebates or reduction in invoice value on account of exports

6. Payments made during international bidding.

7. Maintenance of Indian embassies abroad

8. Payments for maintaining offices abroad

9. Donations to international institutions

10. Import/export of goods insurance

11. Loans extended to Non-Residents

12. Postal services

IMPORTANT DETAILS WHICH NEEDS TO BE FURNISHED

I. Details of Remitter

Name

Address

PAN Number

E-Mail Address and Phone No.

Status of the Remitter (Firm/Company)

Principal Place of Business of the Remitter

II. Details of Remittee

Principal Place of the Remittance

Business Portfolio

Name and Status

Nationality

Address

III. Details of the Remittance

Amount of Remittance in Indian Currency

Nature of Remittance as Per Agreement

Currency in Which Remittance Is Made

Country to Which Remittance Is Made

Proposed Date of Remittance

IV. Bank Details of the Remitter

Name of Bank of the Remitter

Name of Branch of the Bank

BSR Code of the Bank

V. Others

Father’s Name of the Signing Person

Designation Of The Signing Person

Category: 15CA/CB

HOW TO E-FILE FORM 15 CA/CB ONLINE