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Value Added Professional Service LLP

404, 4th Floor, Devika Tower, Chander
Nagar, Ghaziabad (U.P.) 201011
Email: [email protected]
Phone: 0120-4264301, 9810224301
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 All about 15CA & 15CB
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What is the need?

While making payment for any purchase of Taxable Material or

Services from an overseas entity, withholding tax need to be
deducted and Form 15CA and 15CB are declaration for the
same

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What is the need?
As per Section 195 of the Income Tax Act 1961,
every person liable for making a payment to non-
residents shall deduct TDS from the payments
made or credits given to non-residents at the
rates in force.
RBI also mandates that except in cases of certain
personal remittances which have been
specifically exempted, no remittance should be
made to a non-resident without furnishing an
undertaking in Form 15CA accompanied by a
certificate from an Accountant in Form 15CB
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What is the need?
The purpose of this undertaking and certificate
is to collect taxes at the stage when the
remittance is made as it may not be possible to
recover the tax at a later stage from the non-
residents.
The format of the undertaking in Form 15CA
which is to be filed electronically and the
format of the certificate of the Accountant in
Form 15CB have been notified vide Rule 37BB
of the Income Tax Rules 1962
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What is Form 15CA
Form 15CA is a Declaration given by Remitter and
is used as a tool by statutory authorities for
collecting information in respect of payments
which are chargeable to tax in the hands of
recipient non-resident.
This is starting of an effective Information
Processing System which may be utilized by
the Income tax Department to independently
track the foreign remittances and their nature to
determine tax liability.
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What is Form 15CA

Authorised Dealers / Banks are now

becoming more vigilant in ensuring that
such Forms are received by them
before remittance is effected since as per
Rule 37BB a duty is casted on them to
furnish Form 15CA received from remitter,
to an income-tax authority for the purposes
of any proceedings under the Income-tax
Act.
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What is Form 15CB
The person making the payment needs to
obtain a certificate from a Chartered
Accountant in Form 15CB. Form 15CB is the
Tax Determination Certificate where the
issuer CA examines the remittance having
regard to chargeability provisions under
Section 5 and 9 of Income tax Act along with
provisions of Double tax Avoidance
Agreements with the Recipient’s Residence
Country.
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What is Form 15CB
It is advisable to obtain 15CB even in cases
where 15CA is not mandated. Though there
is no penal provision prescribed in the Act if
such Certificates in Form 15CB and
Declaration in Form 15CA are not obtained,
but it is in the interest of Assessee to have a
tax determination in Form 15CB from a CA,
since Non-resident taxation involves various
complex issues and the consequences of
Non deduction are severe.
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Payment / Remittances doesn’t require 15CA

Fourteenth Amendment Rules, which are

applicable from October 1, 2013, provides
for the list of Payments / Remittances which
doesn’t require compliances and reporting
through the submission of 15CA and in turn
Certificate from Chartered Accountant in
Form 15CB.
The list of these twenty eight items is
covered in the table in further slides:
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Payment / Remittances doesn’t require 15CA
Purpose
S.
code as Nature of Payment
No.
per RBI
1 S0001 Indian investment abroad -in equity capital (shares)
2 S0002 Indian investment abroad -in debt securities
Indian investment abroad -in branches and wholly owned
3 S0003
subsidiaries
4 S0004 Indian investment abroad -in subsidiaries and associates
5 S0005 Indian investment abroad -in real estate
6 S0011 Loans extended to Non-Residents
Payment- for operating expenses of Indian shipping
7 S0202
companies operating abroad.
Operating expenses of Indian Airlines companies operating
8 S0208
abroad
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Payment / Remittances doesn’t require 15CA
Purpose
S.
code as Nature of Payment
No.
per RBI
9 S0212 Booking of passages abroad -Airlines companies
10 S0301 Remittance towards business travel
11 S0302 Travel under basic travel quota (BTQ)
12 S0303 Travel for pilgrimage
13 S0304 Travel for medical treatment
Travel for education (including fees, hostel expenses
14 S0305
etc.)
15 S0401 Postal services
Construction of projects abroad by Indian companies
16 S0501
including import of goods at project site
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Payment / Remittances doesn’t require 15CA
Purpose
S.
code as Nature of Payment
No.
per RBI
17 S0602 Freight insurance – relating to import and export of goods
18 S1011 Payments for maintenance of offices abroad
19 S1201 Maintenance of Indian embassies abroad
20 S1202 Remittances by foreign embassies in India
Remittance by non-residents towards family maintenance and-
21 S1301
savings
22 S1302 Remittance towards personal gifts and donations
Remittance towards donations to religious and charitable
23 S1303
institutions abroad
Remittance towards grants and donations to other Governments
24 S1304
and charitable institutions established by the Governments.
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Payment / Remittances doesn’t require 15CA

Purpose
S.
code as Nature of Payment
No.
per RBI
Contributions or donations by the Government to
25 S1305
international institutions
26 S1306 Remittance towards payment or refund of taxes.
Refunds or rebates or reduction in invoice value on
27 S1501
account of exports
28 S1503 Payments by residents for international bidding.

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Applicability – Various Scenarios
Form 15 CA
If remittance isn’t chargeable to Tax

Scenario Applicability
(a) Single remittance doesn't exceed Rs
50,000;
Not to be
And
reported at all
b) Aggregate payment during year doesn't
exceed Rs 2,50,000
(a) Single remittance exceed Rs 50,000;
And Not to be
b) Aggregate payment during year doesn't reported at all
exceed Rs 2,50,000

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Applicability – Various Scenarios
Form 15 CA
If remittance isn’t chargeable to Tax

Scenario Applicability
(a) Single remittance doesn't exceed Rs
50,000;
Not to be
And
reported at all
b) Aggregate payment during year exceed Rs
2,50,000

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Applicability – Various Scenarios
Form 15 CA
If remittance is chargeable to Tax (including Salary or Interst)

Scenario Applicability
(a) Single remittance doesn't exceed
Rs 50,000;
To to be reported in Part A
And
of Form 15CA
b) Aggregate payment during year
doesn’t exceed Rs 2,50,000
(a) Single remittance exceed Rs To be reported in Part B of
50,000; Form 15CA along with
And Form 15CB and other
b) Aggregate payment during year prescribed documents, if
doesn’t exceed Rs 2,50,000 any
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Applicability – Various Scenarios
Form 15 CA
If remittance is chargeable to Tax (including Salary or Interst)

Scenario Applicability
(a) Single remittance doesn't exceed To be reported in Part B of
Rs 50,000; Form 15CA along with
And Form 15CB and other
b) Aggregate payment during year prescribed documents, if
exceed Rs 2,50,000 any

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Details to be provided in Form 15CA
Form 15 CA
To be filled up by the person responsible for making remittance to
NR or foreign company which is chargeable to tax in India
(including interest or salary)

Part A of Form 15 CA (Form 15CB is not required)

Particulars Details
To be filled up if the remittance to non- resident or
to a foreign company does not exceed Rs. 50,000
Who shall fill
per transaction and aggregate of such payments
it
made during the financial year does not exceed Rs.
2,50,000

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Details to be provided in Form 15CA
Part A of Form 15 CA (Form 15CB is not required)

Particulars Details
What In respect of Remitter
information • Permanent Account Number (PAN) and Tax
has to be Deduction and collection Account Number (TAN)
filled in? should be mentioned. TAN is mandatory in cases
where:
• tax has been deducted or will be deducted at
source;
• the remitter has obtained an order under
section 195 (2) of the Income-tax Act from the
Assessing Officer.
• In case an invalid PAN and/or TAN is filled in by the
remitter, the Form will not be generated
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Details to be provided in Form 15CA
Part A of Form 15 CA (Form 15CB is not required)
Particulars Details
• In case the remitter does not have a TAN, it is mandatory
to quote PAN of the remitter.
• PAN of the remitter should invariably be given. However,
the same is mandatory if status of entity is Company or
Firm. If PAN is not given in such cases, the remitter will not
be allowed to generate the Form.
• Details in at least two address fields for remitter should be
mentioned
• Name of the entity should be mentioned in the “Name of
remitter” field.
• No value is to be provided in Area code, AO type, Range
code & AO number. The fields will be entered by the
system after validating the PAN and/or TAN.
• Email id and mobile number, if any, should be provided.
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Details to be provided in Form 15CA
Part A of Form 15 CA (Form 15CB is not required)

Particulars Details
In respect of Recipient of Remittance
• Complete address of recipient of remittance,
separated by coma, should be provided.
• PAN, allotted by the Indian Income Tax Department
should be mentioned.
• If status of entity is “company”, then provide type
of company i.e., “domestic” or “other than
domestic”.
• In the field “Principal Place of Business”, the
country of tax residence of the recipient of the
remittance should be mentioned.

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Details to be provided in Form 15CA
Part A of Form 15 CA (Form 15CB is not required)

Particulars Details
In respect of Remittance
• Amount payable before TDS (In Indian Currency)
• Aggregate amount of remittance made during the
financial year including this proposed remittance
• Name of Bank and details of the branch of bank
• Proposed date of remittance
• Nature of remittance
• Tax deducted—
(a) Amount of tax deducted
(b) Date of deduction

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Details to be provided in Form 15CA
Part B of Form 15 CA (Form 15CB is required)

Particulars Details
To be filled up for remittances other those
specified in Part A (If the Remittance is chargeable
Who shall fill it to tax and exceed Rs. 50000 per transaction and
aggregate of such payments made during the
financial year exceeds Rs. 2,50,000)
1. Forms prescribe mandatory application of
What provisions of Section 206AA, if PAN of
information remittee is not available;
has to be filled 2. Other details:
Divided into Section A and Section B

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Details to be provided in Form 15CA
Part B of Form 15 CA (Form 15CB is required)

Particulars Details
Section A
Details of Remitter, Remittee and Accountant to be
specified in this section
In respect of details of Accountant, following are
important:
• Date of certificate should not be a future date.
• Registration number should be numeric.
• Details of accountant are not required if point no.
15 is selected i.e. any order u/s 195 (2)/ 195 (3)/
197 of the Income-tax Act has been obtained from
Assessing Officer.
• Certificate number is an alphanumeric field

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Details to be provided in Form 15CA
Part B of Form 15 CA (Form 15CB is required)
Particulars Details
Section B
Particulars of Remittance and TDS (as per certificate of
accountant), namely:
a. Remittance details
b. Taxability under the Income Tax Act without
considering the relief of the DTAA
c. If income is chargeable to tax in India & relief is
claimed under DTAA, whether TRC has been obtained
from recipient?
d. TDS details
e. If remittance is on account of capital gains details of
amount of short-term, long-term capital gains and the
basis of arriving at the taxable income.
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Details to be provided in Form 15CA
Part B of Form 15 CA (Form 15CB is required)

Part B of Form 15CA is to be filled after obtaining either

of the below:
a. A certificate in form no. 15CB from an Accountant
(Chartered Accountant) or
b. A certificate from the Assessing Officer (AO) under Sec
197 or
c. An order from Assessing Officer under sub-sec (2) or
sub-section (3) of sec 195

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Details to be provided in Form 15CA
Guidelines for Part B of Form 15 CA
• Provide the values as per the accountant certificate obtained in
Form 15CB.
• In case name of the country is not available in drop down list,
select value “other” from the drop down and provide name of
the country.
• In case currency name is not available in drop down then select
value “other” from the drop down and provide name of the
currency.
• Proposed date of remittance should be current date or a future
date.
• Amount of TDS should be less than amount of remittance.
• Actual amount of remittance after TDS should be less than
amount of remittance.
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Details to be provided in Form 15CA
Guidelines for Part B of Form 15 CA
• Select type of the bank:
• Indian Bank (Bank of India, Dena Bank etc.)
• Foreign Bank (Standard Chartered Bank, HSBC, Citi Bank etc.)
• In case of “Indian Bank”, user will be required to provide “Name of
the branch” and “BSR code”
• In case of “Foreign Bank”, user will be required to provide details of
location i.e. Located in India or Located outside India
• In case of foreign bank located in India, user will be further required
to provide “Name of the branch” and “BSR code”
• In case of foreign bank located outside India, user will be further
required to provide:
• Name of the branch
• BSR code (This will be optional)
• Code of branch (This will be mandatory)
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Details to be provided in Form 15CA
Guidelines for Part B of Form 15 CA
• Rate of TDS as per DTAA (if applicable) should be
mentioned up to two decimal places.
• Amount should be mentioned up to 2 decimal places.
• Select any one out of fields 12, 13, 14 and 16. One
form is to be filled for one type of remittance.
• Details of “responsible person” should be mentioned
for verification.
• Value for “rate of deduction as per the Income-tax Act”
should be “0.00” if no tax has been deducted and
“amount of TDS in Indian and foreign currency” should
be “0.00”.
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Applicability – Various Scenarios
Form 15 CA
Based on the above discussions it can be concluded that:
a. There are 28 types of payments for which no
information is required to be furnished at all.
b. Form 15CB is not required where Part A of Form 15CA is
to be filled in, i.e., in case of small payments.
c. In case of other payments, either an order or a
certificate of the Assessing Officer u/s. 197 / 195(2) /
195(3) must be obtained, or a certificate of the
Chartered Accountant should be obtained.
d. Sub-rule (2) of Rule 37BB mandates that Form 15CA
shall be furnished to the authorised dealer prior to
remitting the payment.
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Applicability – Various Scenarios
Form 15 CA

e. Rule 37BB casts a duty on the authorised dealer to furnish

Form 15CA submitted by the remitter to an income-tax
authority for the purposes of any proceedings under the
Income-tax Act.
f. Form 15CA state that in the absence of the PAN of the
recipient, provisions of section 206AA shall apply.
g. Form 15CB requires detailed enumeration of the taxability
of the amount under the Income-tax Act, without giving
any effect to the DTAA. Where DTAA provisions are sought
to be applied, the details of the Tax Residency Certificate,
applicable DTAA and its relevant article, as also tax liability
under the DTAA are to be furnished.
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 Changes introduced in Finance
Act, 2015 in respect of Form
15CA and Form 15CB under
Section 195(6) of Income tax
Act, 1961
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Changes in Finance Act, 2015
Section 195 (6) has been amended in the Finance Act
2015 and states that Form 15CA / CB needs to be
necessarily filed for all remittances, whether chargeable
to tax in India or not.
All the assessees are requested for submission of Form
15CA / 15CB for all outward cross border
remittances including those against imports with effect
from 1st June 2015
Previously Section 195(6) of the Act used to provide that
any person responsible for making payments to a non-
resident of any sum chargeable under the IT Act will
provide such information as may be prescribed in Form
15CA and 15CB.
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Changes in Finance Act, 2015
Previously there was no penalty prescribed
for non-furnishing of information or
furnishing of incorrect information under
section 195(6) of the IT Act (i.e. Form 15CA
and Form 15CB).
It is now proposed to provide a penalty
of one lakh rupees in case of non-furnishing
of information or furnishing of incorrect
information under section 195(6) (i.e. Form
15CA and Form 15CB) of the Act.
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 Changes introduced vide Press
th
Release dated 17 December
2015 under Rule 37BB of
Income tax Rules
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Changes vide Press release dated 17.12.15
• No Form 15CA and 15CB will be required to be furnished by
an individual for remittance which do not requiring RBI
approval under its Liberalised Remittance Scheme (LRS)
• The list of payments of specified nature mentioned in Rule 37
BB which do not require submission of Forms 15CA and 15CB
has been expanded from 28 to 33 including payments for
imports.
• A CA certificate in Form No. 15CB will be required to be
furnished only in respect of such payments made to non-
residents which are chargeable to tax and the amount of
payment during the year exceeds Rs. 5 lakh.
The amended Rules will become applicable from 1st April 2016
and were notified vide Notification No. G.S.R. 978(E) dated 16th
December, 2015
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 Payment / Remittances doesn’t require 15CA – Newly added
five items over and above earlier notified 28 items to make
the list of 33 items
Purpose
S.
code as Nature of Payment
No.
per RBI
29 S0101 Advance payment against imports
30 S0102 Payment towards imports - settlement of invoice
31 S0103 Imports by diplomatic missions
32 S0104 Intermediary trade
33 S0190 Imports below Rs.5,00,000 - (For use by ECD offices)

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 Changes introduced in April
2016 in respect of Form 15CA
and Form 15CB under Rule
37BB of Income tax Rules
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Changes applicable from 1st April 16
Start

Certific
Is > Rs. 5
Yes Yes ate u/s Yes 15CA – Part B
remittance Lacs in
195 / 15CB – X
Taxable FY
197

No No No

Covered 15CA – Part A 15CA – Part C

under Yes 15CB – X 15CB –
specified
exemption
list
15CA – X
No 15CB – X

15CA – Part D
End
15CB – X

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Changes applicable from 1st April 16
The CBDT has amended Rule 37 BB of the Income-
tax Rules and made following changes which are
applicable from 1st April 2016:
The furnishing of information for payment to a
non-resident, not being a company, or to a foreign
company in Form 15CA has been classified into 4
parts –
Part A,
Part B,
Part C and
Part D, wherein:
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Changes applicable from 1st April 16
Part A: Where the remittance or the aggregate of such
remittances does not exceed 5 lakh rupees during the FY.
(Whether taxable or not)
Part B: Where an order / certificate u/s 195(2) / 195(3) / 197
of Income-tax Act has been obtained from the AO. (Whether
NIL rate or Lower Rate Certificate)
Part C: Where remittance is chargeable to tax under
domestic law and the remittance or the aggregate of such
remittances exceeds 5 lakh rupees during the FY and a
certificate in Form No. 15CB has been obtained electronically
from a CA. (Utility available on Income Tax e-filing Website)
Part D: Where the remittance is not chargeable to tax under
Domestic Law.
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Changes applicable from 1st April 16
No 15CA / CB is required in following cases:
• if an individual is making remittance which do
not requiring RBI approval under its Liberalized
Remittance Scheme (LRS) or items mentioned
in Schedule III to the Foreign Exchange (Current
Account Transaction) Rules, 2000 as stated in
further slides
Or
• If remittance is in the nature of 33 items
provided in the rule 37BB as stated in previous
slides
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Changes applicable from 1st April 16
Items mentioned in Schedule III to the Foreign
Exchange (Current Account Transaction) Rules, 2000

Individuals can avail of foreign exchange facility for the

following purposes within the limit of USD 2,50,000 only.
Any additional remittance in excess of the said limit for
the following purposes shall require prior approval of the
Reserve Bank of India.
i. Private visits to any country (except Nepal and Bhutan)
ii. Gift or donation.
iii. Going abroad for employment
iv. Emigration
v. Maintenance of close relatives abroad
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Changes applicable from 1st April 16
Items mentioned in Schedule III to the Foreign
Exchange (Current Account Transaction) Rules, 2000

vi. Travel for business, or attending a conference or

specialised training or for meeting expenses for
meeting medical expenses, or check-up abroad, or for
accompanying as attendant to a patient going abroad
for medical treatment/ check-up.
vii. Expenses in connection with medical treatment
abroad
viii. Studies abroad
ix. Any other current account transaction

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Changes applicable from 1st April 16
Items mentioned in Schedule III to the Foreign
Exchange (Current Account Transaction) Rules, 2000
Provided that for the purposes mentioned at item numbers
(iv), (vii) and (viii), the individual may avail of exchange facility
for an amount in excess of the limit prescribed under the
Liberalised Remittance Scheme as provided in regulation 4 to
FEMA Notification 1/2000-RB, dated the 3rd May, 2000 if it is
so required by a country of emigration, medical institute
offering treatment or the university, respectively.
Provided further that if an individual remits any amount
under the said Liberalised Remittance Scheme in a financial
year, then the applicable limit for such individual would be
reduced from USD 250,000 by the amount so remitted.
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Changes applicable from 1st April 16
Items mentioned in Schedule III to the Foreign
Exchange (Current Account Transaction) Rules, 2000

Provided also that for a person who is resident but not

permanently resident in India and
a. is a citizen of a foreign State other than Pakistan; or
b. is a citizen of India, who is on deputation to the
office or branch of a foreign company or subsidiary
or joint venture in India of such foreign company,
may make remittance up to his net salary (after
deduction of taxes, contribution to provident fund and
other deductions).
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Changes applicable from 1st April 16
Process steps for filing 15CB and 15CA in
cases where 15CB needs to be filed
When payment is chargeable to Income-tax Act, 1961
and exceeds Rs. 5 Lac during the financial year:
• In case an order is obtained from Assessing Officer
under section 195(2) or 195(3) or a Certificate is
obtained from Assessing Officer under Section 197:
 Information is required in Part B of Form 15CA
• In any other cases
 Information is required in Part C of form 15CA,
after obtaining a Certificate in Form 15CB from
an accountant
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Changes applicable from 1st April 16
Process steps for filing 15CB and 15CA in
cases where 15CB needs to be filed
• The Certificate in Form No. 15CB shall be furnished
and verified electronically in accordance with the
procedures, formats and standards specified by
the Principal Director General of Income-tax
(Systems).
• Upload of Form 15CB is mandatory prior to filling
Part C of Form 15CA. To prefill the details in Part C
of Form 15CA, the Acknowledgment number of e-
Filed Form 15CB should be provided.
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Changes applicable from 1st April 16
Process steps for filing 15CB and 15CA in
cases where 15CB needs to be filed
Hence, 15CB shall be furnished online by chartered
accountant itself with effect from 01.04.2016. To give
effect the same, there is a requirement of adding CA
under the Login details of Person filing Form 15CA
• Client should Add CA for Form 15CB.
• CA should Download the Java Utility for 15CB, Fill Up
and generate xml.
• CA should log in to e-filing portal using user id
• Upload the 15CB xml generated with DSC procedure.
There ends the work of a CA
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Changes applicable from 1st April 16
Process steps for filing 15CB and 15CA in
cases where 15CB needs to be filed
Step 1: Client should log in to its account and in “work
list” option under main menu click “For Your Information
section” and see the list of returns e-filed.
Step 2: 15CB e-filed by CA will appear in first. Select the
form and download the Acknowledgement No file of
15CB and also 15CB PDF file (password for PDF file is PAN
& DOB/DOI)
Step 3: Then under “'e-file” option select “Prepare and
Submit online forms other than ITR” Select 15CA in it.

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Changes applicable from 1st April 16
Process steps for filing 15CB and 15CA in
cases where 15CB needs to be filed
Step 4: Client to validate the DSC signature file and on
choosing the DSC file it will ask for which Part of 15CA to be
chosen Part -A/ B/ C/ D.
Step 5: For options of C &D 15CB of CA is required. So if C /
D is selected it will ask for the 15CB e-filed
acknowledgement no.
Step 6: On entering the 15CB e-filed acknowledgement no,
15CA is populated fill the necessary details then submit.
Step 7: Finally under “My Account” section in “View”
option one can see the 15CA e-filed.
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Disclaimer

This write up is intended to start academic discussion

on few significant interpretations under Income Tax
Act, 1961 as well as FEMA and RBI regulations. It is
not intended to be a professional advice and should
not be relied upon for real time professional facts.
Readers are advised to refer relevant provision of law
before applying or accepting any of the point
mentioned above. Author accepts no responsibility
whatsoever and will not be liable for any losses,
claims or damages which may arise because of the
contents of this write up.

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 Hope you fount it useful
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