25 September 2014
One of our clients is going to apply for remittance of 30000 dollars in current month and another 30000 dollars in next month during the financial year 2014-15 to his son who is non resident for the purpose of construction of a house in U.S.A. through applying mortagage loan by the client in an Indian Bank.
He approached us to certify Form 15CA and Form 15CB. The client doesn't deduct the tax on such amount.
On what basis remittance of foreign currency is chargeable to tax?
If such remittance of foreign currency is not chargeable to tax whether there is requirement to certify Form 15CB?
CAclubindia
