15ca and 15cb

This query is : Resolved

mithun (Querist)
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25 February 2015 Dear Sir

I have a client named ABC & Co. who makes payment to foreign company for purchase of some material. whether he needs to obtain 15CB certificate from CA.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 February 2015 http://taxguru.in/income-tax/requirement-form-15ca-form-15cb-remittance-taxable.html

http://www.charteredclub.com/form-15ca/

mithun

mithun (Querist)
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25 February 2015 Dear Tushar

Please let me know whether the payment made to foreign company is taxable or not

Language of Rule 37BB are confusing

Thanks

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 February 2015 there is no tax applicable under income tax on purchases.

mithun

mithun (Querist)
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25 February 2015 Dear Tushar

So you mean to say that if any import purchases are made from foreign company then no requirement of 15CB from CA

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 February 2015 no i meant no income tax is applicable.

kindly refer the above links posted in 1st reply for requirement of form 15 CB.