CA Mayur Todmal (Practicing CA) (7756 Points)
28 April 2016Hi,,
I have to remit INR 65000 to foreign for professional service(recipient is individual) . aggregate payment will not exceed 5lac during FY 16-17. As per Income tax act sum is chargeable to tax u/s 195. and as per dTAA is exempt whether I have to file 15CA please suggest.
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 28 April 2016
1. Form 15CA & CB will not be required to be furnished if you are making payment for list of items mentioned in rule 37BB
2.Form 15CA & CB will not be required to be furnished by an individual for remittance which does not require RBI approval
If your payment is covered in the above scenarios then need not to submit the 15CA
Otherwise you need to submit 15CA & your information will be covered in Part A of 15CA.
CA Mayur Todmal
(Practicing CA)
(7756 Points)
Replied 28 April 2016
Thanks ...
payment is for professional service.
remitter is company.
Payment is taxable as per ITAX act
but exempt as per dtaa.
Part A of 15ca require for payament taxabale as per ITAX.
but also ask for TDS . and as per dtaa its exempt..
what to do ...
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 29 April 2016
If you are sure that your payment is not taxable as per DTAA then TDS need not to be deducted because DTAA overrides IT act.
If the amount is not taxable then need not to provide form 15CA as you told it needs to be provided if the payment to NR is taxable in india
Please once check with your banker also.
CA Mayur Todmal
(Practicing CA)
(7756 Points)
Replied 29 April 2016
Thanks...
I m sure payment is exempt as per dtta, before 01/04/16 i have submitted 15ca/cb.
but since 01/04/16 there is change so i m confused..
now i have to submit 15ca part A without mentioning tds rate and amount in part A right ?.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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