Where order/certificate of lower/no deduction is taken from the Jurisdictional Assessing Officer us 195(2), 195(3), 197 of the Income Tax Act’1961.

Till the aggregate of remittances during the financial year does not exceed Rs.

Payment towards import-Settlement of Invoice.

Following are the new entries in the specified list where no forms 15CA, CB are required: The list of payments where there is no requirement for forms 15CA, 15CB has been expanded under Rule 37BB.

No forms 15CA & 15CB will be required to be furnished by an individual for remittance which does not require RBI approval under Liberalised Remittance Scheme. Forms 15CA/CB will not be required at all.

certificate by a Chartered Accountant is also to be filed online. Forms 15CA and 15 CB are to be filed onlineĮarlier only form 15CA had to be filed online but now form 15CB i.e.Some of the key changes for furnishing form 15CA & 15CB that have come into effect from 01st April 2016 are:

The new rules for preparation, filing/ issuing forms 15CA and 15CB are effective from 01st April 2016. With the changes in compliance of Form 15CA/CB, foreign remittance is now as easy as making payment within the country. Form 15CA is submitted online if there is a foreign remittance to non residents and Form 15CB is a certificate issued by a CA after examining the remittance having regard to provisions of Double tax Avoidance Agreements with the Recipient’s Residence Country.įor ease of doing business, Modi Government has come up with many relaxations in compliance in regard to foreign remittance.

Form 15ca and 15cb download