ABCAUS - Excel for Chartered Accountants

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ABCAUS Excel for Chartered Accountants

Excel for
Chartered Accountants

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As per sub section (1) of section 195 of Income Tax Act, 1961 any person responsible for paying to a non resident, not being a company or to a foreign company any interest or any other sum chargeable under the Act shall deduct tax at source. Further, as per sub section (6) of section 195 of Income Tax Act, 1961 read with rule 37BB of the income tax rules, 1962 such person shall also file prescribed information in form 15CA.

CBDT has vide its notification no. 67/2013 dated 2 nd September, 2013 (Click Here >>) has revised the rule 37BB and form 15CA and Form 15CB. The revised rules and forms shall be effective from 1st October, 2013. As per revised rules, form 15CA has been divided into three sections and the person responsible for payment shall furnish information as under:

(i) If the remittance  is chargeable to tax and does not exceed  Rs. 50000/- and the aggregate of such remittances in financial  year does not exceed Rs. 250000/-

information in  Part-A

(i) If the remittance is chargeable to tax and exceeds Rs. 50000/- and the aggregate of such remittances in financial year exceeds Rs. 250000/- 

information in  Part-B

For cases falling under clause (ii) above the person is also required to obtain a certificate as under:
(a)   a certificate in form 15CB from a Chartered Accountant; or
(b)   a certificate from Assessing Officer under section 197; or
(c)   an order from the Assessing Officer under sub-section (2) of section 195 for determining the appropriate proportion for tax deduction or sub-section (3) of section 195 for no deduction.

The form 15CA is required to be filed electronically to the website designated by the of the income tax department and thereafter the signed printout of form 15CA shall be submitted to the authorized dealer, prior to remittance of the payment.

Filing steps for Form 15CA:  
Nsdl has been designated for online filing form 15CA . The link for filing form 15CA is as under:

After filling up the information, click “submit”. On submission of details if system shows any errors, rectify and re-submit the form. A confirmation screen with all the data filled by the user will be displayed. The same can be either confirmed or edited. On confirmation, a filled up Form 15CA with an acknowledgement number will be displayed.

Print out of the Form should be taken, signed and submitted prior to remitting the payment. Form 15CA can be re-printed by selecting the re-print option. For re-printing, please enter "acknowledgement no.", "PAN" and/or "TAN" mentioned in the Form.

Please note that Form 15CB or other certificates are not required to be online filed but they are required to be obtained and their details are required to be filled in the part-C of the revised form 15CA.

RBI vide Notification dated 30-06-2014 has also clarified that with respect to tax matters on remittances to non-residents, CBDT Notification shall apply ( Click Here >> )

download 15ca

Excel Revised Income Tax Form 15CB Rule 37BB

ABCAUS Excel Revised Form 15CB

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