chander (Manager taxation) (25 Points)
18 April 2011Is it mandatory to fill & submit FORM 15CB/CA to a bank at the time of Foreign remittance if an individual make a foreign remittance from his saving account?
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 18 April 2011
| Originally posted by : chander | ||
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Is it mandatory to fill & submit FORM 15CB/CA to a bank at the time of Foreign remittance if an individual make a foreign remittance from his saving account? |  |
Sec. 195 does not differentiate between individual and corporates or business or non-business purpose. So unless your bank agrees to remit the foreign currency without form 15CA & CB you are required to fill in form 15CA after obtaining form 15CB.
Anuj
0-9810106211
CA Vishwas Aradhya
(Consultant)
(60 Points)
Replied 18 April 2011
| Originally posted by : CA. Anuj Gupta | ||
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Originally posted by : chander Is it mandatory to fill & submit FORM 15CB/CA to a bank at the time of Foreign remittance if an individual make a foreign remittance from his saving account? Sec. 195 does not differentiate between individual and corporates or business or non-business purpose. So unless your bank agrees to remit the foreign currency without form 15CA & CB you are required to fill in form 15CA after obtaining form 15CB. Anuj 0-9810106211 |
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I agree with Anuj Ji,
Form 15CB and CA certificates are manadatory for any foreign remittances. To add, In view of RBI Instructions to AD (Authorised Dealers including Banks), No AD is allowed to effect remittances outside India w/o FORM 15CA and CB.
PS: this does not mean that there has to be TDS. It will be Nil certificate
CA Vishwas Aradhya | +91 95913 18000
Bangalore
Sagar
(student)
(326 Points)
Replied 18 April 2011
Hi Chander
It is compulsory for you to submit Form 15CA/CB in the bank and it should be duly certified by a Chartered Accountant.
susanta kumar jena
(CA Final/ICWA Final)
(50 Points)
Replied 19 April 2011
Yah correct,
form 15CA should be filled by the director (signatory) online & 15CB by a C.A.
Ankita Trivedi
(job)
(43 Points)
Replied 19 April 2011
i do agree with susanata and have submit a copy of the same to IT dept
susanta kumar jena
(CA Final/ICWA Final)
(50 Points)
Replied 19 April 2011
Yah rite ankita, IT dept & the respective banks .
Love Pumreja
(Senior Article)
(49 Points)
Replied 19 April 2011
Yes if u need to do foreign remittances,bank need you to file 15CB and 15CA duly certied by CA
Vijay Kumar
(article)
(402 Points)
Replied 19 April 2011
Sagar
(student)
(326 Points)
Replied 19 April 2011
hey vijay he knows that thing
dont unnecessarily write any comments
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