Cases in which both Form 15CA and 15CB are not required: There is a List of 28 items where Form 15CA and Form 15CB are not required as per the Income Tax Rules: There are certain payments which are not mentioned in the list of 28 items as above: • Payment made to non resident to purchase raw material, machinery • Payment made to non resident for booking of hotels for tourists. • Payment made to participate in business exhibition to be held in foreign country. • Payment made towards membership/association fees • Payment made towards service charges to non residents (having no PE in india) who select and dispatch raw material or machinery on our behalf.
Is the requirement to issue 15CB mandatory in above cases although there is no TDS involved?
14 November 2015
Yes. It is not just for TDS. The amount of remittance from India to other countries is to be reported in this form whether TDS is applicable or not.
CAclubindia
