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Form 15 ca

budha bhargav (Student) (52 Points)

06 April 2015

If remittances are not chargeable to tax, should we still file form 15ca? Pls guide me

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Shishir Nayak ((Expert)) (369 Points)
Replied 06 April 2015

As per Secction 195 of the income tax act 1961 no remittance should be made to a non resident without furnshing a undertaking in form 15CA accompanied by a certificate from accountant in form 15 CB. Some Remittance are not taxable but you have to file 15CA form if it is not falling under exempted remittance given by RBI.

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Sriram (CMA Final) (178 Points)
Replied 06 April 2015

even tough TDS is not attracted you have to fill form 15CA and get a 15CB Certfificate from Accountant. generally bankers will ask 15 CA and 15CB.

if your nature of payment is in specified list, then you need not fill 15CA.

budha bhargav (Student) (52 Points)
Replied 06 April 2015

But there is no separate form 15ca In income tax portal to be filled for remittances which are not taxable

Shishir Nayak ((Expert)) (369 Points)
Replied 06 April 2015

Read Carefully...

Above i told you you have to file 15CA form if it is not falling under exempted remittance given by RBI. Its means if remittance falling under exempted category then you need not file form 15CA.

But problem is Banks are insisting for Form 15CA even though the payment is not chargeable to tax. In such cases, the possible recourse is to submit a declaration in form of a note to Bank stating the nature of remittance and reason as to why it is not chargeable to tax and consequently exempted from the submission of Form 15CA.

Sriram (CMA Final) (178 Points)
Replied 06 April 2015

If you are claiming relief as per DTAA, then you jusst mention relevant Article of DTAA in Form 15CA. that is enough.There will be no separate form 15CA for remittances which are not taxable

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J. K. Ratan (Compliance Advisor) (794 Points)
Replied 06 April 2015

Originally posted by : Shishir Nayak
	Read Carefully... Above i told you you have to file 15CA form if it is not falling under exempted remittance given by RBI. Its means if remittance falling under exempted category then you need not file form 15CA. But problem is Banks are insisting for Form 15CA even though the payment is not chargeable to tax. In such cases, the possible recourse is to submit a declaration in form of a note to Bank stating the nature of remittance and reason as to why it is not chargeable to tax and consequently exempted from the submission of Form 15CA.