What is Form 15CA?+
Form 15CA is a declaration filed by a person making certain payments to a non-resident or foreign company, providing details of the remittance for reporting purposes. Whether it applies to a specific payment depends on the nature of the transaction.
What is Form 15CB?+
Form 15CB is a certificate issued by a Chartered Accountant covering matters such as the taxability of the remittance, the applicable tax rate, and relevant treaty considerations, in cases where such certification is required.
What is the difference between Form 15CA and Form 15CB?+
Form 15CA is a declaration made by the remitter, while Form 15CB, where applicable, is a Chartered Accountant's certificate that supports the tax determination referenced in the 15CA declaration.
Who needs to file Form 15CA?+
Individuals, businesses, or finance teams making a payment to a non-resident or foreign company may need to file Form 15CA, depending on the nature and taxability of the remittance.
When is Form 15CB required?+
Form 15CB may be required in specific cases involving taxable remittances above certain thresholds, subject to prevailing rules and available exemptions. A professional review helps confirm whether it applies to your transaction.
Is 15CB required for every foreign remittance?+
No. Not every foreign remittance requires Form 15CB. Applicability depends on factors like the nature of payment, its taxability, and any exemptions that may apply.
What documents are needed for 15CA/15CB?+
Commonly requested details include PAN, remitter and recipient information, invoices or agreements, purpose of payment, and remittance amount — though the exact list depends on the transaction.
Can DTAA affect the tax treatment of a foreign remittance?+
Yes, a Double Taxation Avoidance Agreement between India and the recipient's country can affect the applicable tax treatment, subject to conditions and documentation such as a Tax Residency Certificate.
Do I need a Chartered Accountant for 15CB?+
Where Form 15CB is applicable, it must be certified by a practising Chartered Accountant. TaxFilr can coordinate this certification as part of the filing process.
When should 15CA be filed?+
Form 15CA is generally filed before the remittance is made, since banks typically require it — along with Form 15CB, where applicable — as part of the outward remittance process.
Can TaxFilr help with foreign remittance compliance?+
Yes. TaxFilr reviews your remittance details, helps identify the applicable compliance requirements, coordinates CA certification where needed, and supports you through the filing process.
What happens after the form is filed?+
Once the applicable forms are filed, you'll typically share the acknowledgement with your bank as part of completing the outward remittance.
