25 October 2012
in which type of foreign payment form no. 15ca is requird to submit to the bank. and also tds is deductible for which type of payment?????
26 October 2012
Form 15CA and 15CB is used when any payment is to be made to another country. CA certification is required to complete the process.
TDS is applicable as per rule if the payment is of INCOME of receiver. On Purchases of raw and finished material, share transfer etc. TDS not applicable.
Form 15CA and 15CB procedure allows to gross up the money transfer so that burden of TDS is retained by the sender and receiver gets the invoice amount.
Payments can be done in any foreign currency but most commonly it is US Dollars, British Pound and Euro.
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