FILLING OF 15CA/15CB FORM
Filling of 15CA/15CB Form
Filing of Forms 15CA-15CB – NGVR and Company
What Are Forms 15CA and 15CB?
Form 15CA is a declaration used to report remittances to non-residents or foreign companies, providing the Income Tax Department with necessary details to track foreign remittances and assess tax liabilities. Form 15CB is a certificate from a Chartered Accountant, confirming the tax details of the remittance, including TDS rates and deductions.
When Are Forms 15CA and 15CB Required?
- Form 15CA: Required for any remittance to foreign companies or non-residents, if the amount is taxable.
- Form 15CB: Needed when remittances exceed ₹5 lakh and are taxable, or when no tax exemption certificate is obtained.
Filing Process
- Form 15CA: Can be filed online via the Income Tax e-filing portal. A copy must be submitted to the bank as proof of tax clearance.
- Form 15CB: Must be filed by a Chartered Accountant through the Income Tax e-filing portal, requiring the CA to be registered and the submission of an offline .xml file.
Revised Filing Rules
- Form 15CB is only required for payments exceeding ₹5 lakh and that are taxable.
- Part A of Form 15CA: For payments under ₹5 lakh.
- Parts B & C of Form 15CA: For payments exceeding ₹5 lakh.
- Part D of Form 15CA: For payments not chargeable to tax.
NGVR and Company Expertise
At NGVR and Company, we specialize in the filing of Forms 15CA and 15CB, ensuring accurate submission and compliance with tax regulations. Our expert team can guide you through the complexities of international remittance compliance, making the process smooth and hassle-free. Contact us for assistance with your tax filing needs.