Dear All,
The Company has to do a foreign remittance for Dividend, So the authorised dealer has asked the Co to fill form 15 CA and 15 CB and submit the same to the AD.
Now my query is what amount should i fill up in Point 2 - Amt of remittance in foreign currency of form 15CB.
Say the proposed date of remittance is 12.8.2010 thenhow shall the conversion be afftected. The amount to be paid is fixed in Indian Rupees and not the other currency.
Please throw some light on the same.
Thanks
Dear Snehal,
follow dividend declaration rules :
Take the conversion rate prevailing on the day of declaration of Dividend or date of payment of dividend or passing the resolution, whichever earlier.
Regards
Hitesh
I have a related question. I got a form 15CB certificate and submitted 15CA about seven months back but did not go ahead with the money transfer. Do I need to get new forms done or the unused forms with older dates (but for the same financial year) still work?
Thanks in Advance
Dear Cuckoo,
15 CA and 15 CB are per remittance propsed to be made. whether the same is made instantly or made in future..
Hence you can use the same form 15 CA and 15 CB as taken earlier for the transfer unless the information in 15 CA changes like amt or exchange rate.etc
Regards
Hitesh
Thanks a lot, Hitesh.
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
View Details
T R SOOD & CO
New Delhi
CA Inter
View Details
Shyam Joshi & Associates
Pune
B.Com
View Details
CAclubindia
