Suraj (819 Points)
10 May 2012
CA. CS. Khushboo Dodhia Vora
(Practicing Charatered Accountant)
(125 Points)
Replied 12 May 2012
Mr. A can make an application to his bankers to make a transfer to the British Company.
Form 15CA, Form 15CB, application form, invoice of goods purchased and other document asked by bank would be required to be submitted to the Bank in order to transfer the funds.
Arihanth Jain
(Chartered Accountant)
(1226 Points)
Replied 24 May 2012
Procedure to remit money outside India [Sec 195 read with Circular No. 04/2009]
ü Remitter obtains certificate from a CA i.e., Form 15CB
ü Remitter electronically (at www.tin-nsdl.com) uploads the remittance details in Form 15CA.
ü Remitter takes a print of the filled undertaking (Form 15CA) with system generated acknowledgement number and signs it
ü The duly signed Form 15CA (undertaking) and Form 15CB (certificate) is then submitted in duplicate to the RBI/authorized dealer i.e., to Banker, along with other documents (A1/A2) who in turn transfers the fund.
ü A copy of undertaking (Form15CA) & certificate of Accountant (Form15CB) is forwarded by RBI / Authorized Dealer to the concerned Assessing Officer.
(Source: Quick lessons in direct tax)
Arihanth Jain
(Chartered Accountant)
(1226 Points)
Replied 24 May 2012
Procedure to remit money outside India [Sec 195 read with Circular No. 04/2009]
a. Remitter obtains certificate from a CA i.e., Form 15CB
b. Remitter electronically (at www.tin-nsdl.com) uploads the remittance details in Form 15CA.
c. Remitter takes a print of the filled undertaking (Form 15CA) with system generated acknowledgement number and signs it
d. The duly signed Form 15CA (undertaking) and Form 15CB (certificate) is then submitted in duplicate to the RBI/authorized dealer i.e., to Banker, along with other documents (A1/A2) who in turn transfers the fund.
e. A copy of undertaking (Form15CA) & certificate of Accountant (Form15CB) is forwarded by RBI / Authorized Dealer to the concerned Assessing Officer.
(Source: Quick lessons in direct tax)
Arihanth Jain
(Chartered Accountant)
(1226 Points)
Replied 24 May 2012
Procedure to remit money outside India [Sec 195 read with Circular No. 04/2009]
a. Remitter obtains certificate from a CA i.e., Form 15CB
b. Remitter electronically (at www.tin-nsdl.com) uploads the remittance details in Form 15CA.
c. Remitter takes a print of the filled undertaking (Form 15CA) with system generated acknowledgement number and signs it
d. The duly signed Form 15CA (undertaking) and Form 15CB (certificate) is then submitted in duplicate to the RBI/authorized dealer i.e., to Banker, along with other documents (A1/A2) who in turn transfers the fund.
e. A copy of undertaking (Form15CA) & certificate of Accountant (Form15CB) is forwarded by RBI / Authorized Dealer to the concerned Assessing Officer.
(Source: Quick lessons in direct tax)
Nutan
(Working)
(50 Points)
Replied 24 May 2012
Procedure to remit money outside India :
Incase of remittance for Service
a. Form A2
b. Bill of Ladding/ Airways as per shipment
c. Invoice
d. Form 15CB ( certified by CA)
e. Form 15CA ( filled form from NSDL TIN Site)
Incase of remittance for Material
a. Form A1
b. Bill of Ladding / airways as per the shipment
These documents are required by bank for transferring the funds.
Hope the reply helps you in making the payment
Bharat_704@yahoo.co.in
(Bharat_704@yahoo.co.in)
(21 Points)
Replied 23 December 2013
But will the transaction be subject to TDS?
CAclubindia
