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Requirment to issue form 15cb and 15ca

This query is : Resolved 

29 April 2014 Dear Sir,

We are require to make payment to the FTWZ units which is an Indian pvt. ltd. co.

As per rule 18(5) of SEZ rules 2006 all the transactions by FTWZ units shall only be in convertible foreign currency.

Bank require form 15CA because it is foreign currency payment.

But as per section 195 form 15CA is required to submit if any payment made to the "NON RESIDENT" not being a company or a foreign co.

As per income tax provision all Indian companies are resident in india unless there whole management and control outside india.

Form 15CB is not obtain because CA refuse to issue certificate because it is payment to resident.

So my question is that whether I have to submit form 15CA after obtaining form 15CB
even this payment is to resident indian.

Give answer with provisions.

Please reply

08 May 2014 Only payments made to Non Residents require 15ca/cb & rule 37BB complaince.
Otherwise not required.



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