Form 15CA-CB
Section 195 of Income Tax Act requires to file Form 15CA-CB for any payment made to Non-Resident Indian
Documents Required for Preparation of Form 15CA-CB
- PAN Card and Aadhar Card
- Supporting Documents for payment to be made to NRI
- Details of Person to whom payment to be made (preferably PAN Card, Email Id, Address with pincode, Country of Residence)
- Purpose of Transaction / Payment
- Tax Payment Receipt
Our approach to file Form 15CA-CB
Frequently Asked Question (FAQ)
Form 15CA-CB - Payment to Non Resident
Any resident person making the payment to Non-Resident Indian, requires to deduct tds as per Section 195 and also required to file Form 15CA-CB as per Rule 37BB.
Form 15CA is a declaration form that needs to be submitted electronically by the resident person making the payment to a non-resident. It is used to provide information about the nature and purpose of the payment, the amount of payment, and the tax deducted at source (TDS), if any.
Form 15CB is a certificate issued by a Practicing Chartered Accountants. It is used to certify that the payment being made to a non-resident is not taxable in India, or that tax has been deducted at the appropriate rate, as per the provisions of the Income Tax Act, 1961.
If Form 15CA-CB is not filed or is filed incorrectly, a penalty of ₹ 1 lakh may be imposed for each default under Section 271-I of the Income Tax Act, 1961. Additionally, the person making the remittance may also be liable to pay interest on the amount of tax payable if not paid or less paid.