Every single time you've attempted to earn any remittance outside India, your lender needs to have requested you to provide a copy of Form 15CA or even 15CB.
Let's know by means of this informative article when are you currently required to submit these forms? In accordance with the Indian taxation legislation, any person who makes any payment into some non-resident (such as a foreign firm ) with regard to any sum that is chargeable to tax under the Income Tax Act will have to provide Form 15CA.
The data to be supplied is as follows: This is beginning of a successful Information Processing System that might be used from the Income-tax Department to separately monitor the overseas remittances and their character to determine tax liability.
Licensed Dealers/ Investors are nowadays getting more cautious in ensuring such Types are obtained by them until remittance is changed since today according to revised Rule 37BB a responsibility is cast on them to supply Form 15CA obtained from remitter, to an income-tax jurisdiction for the purposes of any event under the Income-tax Act.
Any individual making a payment into a Non-Resident or Australian company must submit the Form 15CA. In some specific scenarios, a certificate by a ca firms is needed in Form 15CB before filing Form 15CA. These forms are filed online.