15 ca & 15 cb query
This query is : Resolved
23 August 2011
Is 15 CA & 15 CB required to be filled for the purpose of payment to a student is US from the parents account in India??
24 August 2011
Under Sec 195 all payments to NR require compliance with form 15ca/cb.
Hence if the student is NR in India then the same is needed.
Hence if the student is NR in India then the same is needed.
24 August 2011
Section 195 of the Income-tax Act, 1961 mandates deduction of income-tax from payments made or credit given to non-residents at the rates in force.
The person making the remittance to a non-resident needs to furnish an undertaking (in Form 15CA) accompanied by a Chartered Accountants Certificate in Form 15CB.
The purpose of the undertaking and the certificate is to collect taxes at the stage when the remittance is made as it may not be possible to recover the tax at a later stage from non-residents.
When there is no requirement to deduct TDS here, still 15CA & 15 CB will be required the purpose may be for keeping track of remittances.
The person making the remittance to a non-resident needs to furnish an undertaking (in Form 15CA) accompanied by a Chartered Accountants Certificate in Form 15CB.
The purpose of the undertaking and the certificate is to collect taxes at the stage when the remittance is made as it may not be possible to recover the tax at a later stage from non-residents.
When there is no requirement to deduct TDS here, still 15CA & 15 CB will be required the purpose may be for keeping track of remittances.
24 August 2011
Thank you sir for your reply
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