15CA And 15CB: Parts Of 15CA And Their Applicability:
AO stands for Assessing officer
1. What Is Form 15CA?
- As per Rule 37BB, any person responsible for making payment to a non-resident, shall furnish such information in Form 15CA and Form 15CB.
2. What Is Form 15CB?
- Form 15CB is also called as the tax determination certificate in which the CA certifies the remittance made to Non-Resident with regard to the income tax chargeability provisions.
- This is a certificate furnished by an accountant, where any payment / aggregate of payments exceeds Rs. 5 lakhs in a FY.
- This certificate has been prescribed under Section 195(6) of the Income tax Act and is an alternate channel of obtaining Tax clearance apart from Certificate from Assessing Officer.
3. Who Should File Form 15CA And 15CB?
- Form 15CA :
- To be filed by the person responsible for making payment to the non-resident.
- Form 15CB:
- Filled and submitted by a CA who is registered on the e-Filing portal.
- The CA must be assigned by the tax payer to file Form 15B.
4. Purpose Of Certification In Form 15CB?
- The CA examines the remittance with regard to chargeability provisions under Section 5 and 9 of the Income Tax Act, 1961 along with the provisions of Double Taxation Avoidance Agreements (DTAA) if any.
- The CA is required to certify that, if the emittance is chargeable to tax in India, whether the tax to be paid in India has been deducted in the form of TDS and paid to the government before making such remittance to the non-resident.
5. Details To Be Certified By CA
- Amount of payment
- Rate of TDS
- Amount of tax payable in India (TDS deduction)
- Actual amount of remittance after TDS
- Nature and purpose of remittance
- Proposed date of remittance
- Date of deduction of tax at source
6. Time Limit
- Form 15 CB should be submitted before remittance is made.
7. E-Verification
- This form can only be e-Verified using DSC. The DSC of the CA should be registered on the e-Filing portal.