Form 15cb required?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2011 Whether loan given to a ‘foreign company’ or a ‘foreign subsidiary company’ from India through wire transfer requires CA certificate in form 15CB?
If yes then what nature of service should the Indian Co. select in online form 15CA filing?

CA Navin Jain

CA Navin Jain (Expert)
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27 July 2011 IN YOUR CASE FORM 15CB IS NOT REQUIRED

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2011 Thanx for your advice sir.

But ref to rule 37BB vide Notification No. 30/2009, Form 15CA is to be submitted electronically by any person responsible for making payment to any non-resident after obtaining a certificate from an accountant as per Explanation in section 288 of the Income tax Act.1961 i.e., Form 15CB

Hence I understand that certificate is required for any payment made to a NR. Request you please explain why loans given should not be considered for above?

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