File your Form 15CA

File Form 15CA under Income Tax Act with us, starts at just Rs. 3999/-* Now to get started Pay Just Rs. 299/- , and the rest will be pay conveniently after processing begins.

100% Online Process

Hassle Free Process

EMI Available

CA / CS Services

Free Consultation

24 x 7 Assistance

H & G Ebiz Private Limited

5.0

review us on

Everything about Form 15CA under Income Tax Act

Overview

During business, it happens that many payments are made outside India. When payments are made outside India, there is certain compliance that one needs to follow and tax is required to be deducted for any sum which is taxable under the Income Tax Act. The purpose of this compliance is to collect information in respect of the payments that are chargeable to tax in the hands of recipient NRI. The main requirement is to file Form 15CA for any payment made outside India to an NRI. Form 15 CA needs to be filed online on official website of Income Tax department.

What is Form 15CA?

Form 15CA is a declaration made by the person remitting the money wherein he states that he has deducted the tax from any payments so made to the non-resident.

It needs to be filed by the remitter- a person making the payment to an NRI or a Foreign Company.

Form 15 CA is also used as a tool to gather information regarding the payments that are chargeable to tax.

Through this form, the Income Tax Department also keeps a track of all the foreign remittances/payments and their taxability.

As per Income Tax Rule 37BB, it is the responsibility and the duty of authorized banks or dealers to ensure that they obtain such forms from a remitter.

Income Tax Form 15 CA is required to be filed online with the Income Tax Department.

Also, along with Form 15 CA, 15 CB needs to be filed with the Income-tax Department.

However, Form 15 CB needs to be accompanied by a certificate from an Accountant in Form 15CB.

Information and Parts of Form 15 CA

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.

Form 15 CA (Part A) When payment is below 5 Lac, information is required to be submitted in Part A of Form 15CA

Form 15 CA (Part B) Where an order /certificate u/s 195(2)/ 195(3)/197 of the Income Tax Act has been obtained from the Assessment Officer

Form 15 CA (Part C) When payment is below 5 Lac, information is required to be submitted in Part A of Form 15CAWhere the remittance or the aggregate of such remittance exceeds 5 lakh rupees during the FY.

Form 15 CA (Part D)Where the remittance is not chargeable to tax under domestic law.

As the Income Tax Department has now created an online facility to file information in Form 15 CA, It is required to be filed online with the tax department. After that, proof of online submission should be printed out. This copy is required to be given to the Bank as proof of tax clearance from the tax department.

Consequences of Non-filing of Form 15 CA

If an assessee who is required to file Form 15CA fails to furnish the same before making remittance to a non-resident, then he shall be liable to pay a penalty as per the provisions of the Income Tax Act, 1961.

Such penal provision shall be attracted even if the person furnishes inaccurate information.

The amount of penalty which the assessing officer may ask the assessee to pay for Non-compliance may reach up to is Rs.1 lakhs.

Things to keep in mind for furnishing Form 15 CA

Photograph of all the Directors and Members

TAN No. is necessary in cases where tax has been deducted or will be deducted at source and / or The Remitter has obtained an order under section 195(2) of the Income Tax Act from the Assessing Officer

In case of invalid PAN and/or TAN, the Form will not be generated

The Person making the Payment (Remitter) shall obtain a certificate from an accountant(other than employee) in Form 15CB.

No value shall be entered in the Area Code, AO Type, Range Code & AO Number. These fields would be automatically entered by the system after validating the PAN and/or TAN.

Information / Documents required for Form 15 CA online filing

Details of the Remitter & Remittee

Name, Address, Status, PAN of the remitter & remittee

Principal place of business of the remitter & remittee

Email Address of the remitter & remittee

Details of the Remittance

Country to which remittance is made

Amount of remittance in Indian currency

Currency in which remittance is made

Nature of the remittance as per agreement

Proposed date of remittance

Bank details of the Remitter

Name of the bank of the remitter

Name of the branch of the bank

BSR Code of the bank

Documents required from the Remittee

A duly filled Income Tax Form 10F by the authorized individual of the remittee.

Tax residency certificate from the proper Remittee/ Tax registration of the country in which the Remittee is registered.

A Certificate that proves the Remittee does not have any permanent establishment within India.

FEES FOR Form 15 CA online Filing

Standard

3999/-

Form 15CA filing

Buy

Process to File Form 15 CA online

+91 76008 05842 +91 76007 97648

Call us for best solution