Form 15CA FILING SERVICES

Form 15CA filing services provided at K M Gatecha & Co LLP:

• Collection of documents,
• Filling and completion of form 15CA,
• Filing of Form 15CA,
• Reply to any queries raised by authorities.
• Completion of process.

What is Form 15CA?

• Form 15CA is a form to be filed by any individual who makes foreign remittances for business or personal purposes.
• Form 15CA is a declaration by the remitter declaring that he/she has deducted all taxes from the payment he has remitted.
• It must be filed by the remitter.
• According to Income Tax Act Rule 37BB, banks are responsible for obtaining this form from the remitter,
• Along with form 15CA, form 15CB must be filed as well.
• Form 15CB must be accompanied with a certificate of an accountant,
• This form enables the Income Tax Department to track foreign remittances and their taxability.
• This form must be filled before making remittance to foreign entity or individual.

Parts of Form 15CA:

• Part A: When payment is below INR 5,00,000/- then information is to be submitted in part A for form 15CA,
• Part B: When an order/certificate u/s 195(2)/195(3)/197 of Income Tax Act has been obtained from the assessment officer,
• Part C: When order/remittance is above INR 5,00,000/- during the financial year,
• Part D: Where remittance is not taxable under domestic law.

Process of filing form 15CA:

• Collection of documents,
• Preparing details of Form 15CA,
• Visiting E-filling page of Income Tax Department,
• Selecting E-file option,
• PAN details of remitter (should be auto filled by site),
• Selecting relevant part of form 15CA,
• Uploading the documents collected,
• Filling in details for verification process,
• Acknowledgement from Income Tax website.

Note: for part C Form 15CB must be uploaded before filling in part C of form 15CA.

Documents/Details for Form 15CA

1. Details of Remitter

• Remitter’s Name
• Remitter’s Address
• Remitter’s PAN Number
• Principal place of business of the remitter
• E-Mail Address and phone no. of remitter
• Status of the remitter (Firm/Company/Other)

1. Details of Remittee Name and Status of the Remittee

• Address of the remittee
• Principal place of business country of the remittee

1. Details of the Remittance

• Country to which remittance Is made
• Currency in which remittance Is made
• Amount of remittance in Indian Currency
• Proposed date of remittance

Nature of remittance as per agreement (invoice copy to be obtained from client)

D Bank Details of the Remitter

• Name of Bank of the remitter
• Name of Branch of the Bank and BSR Code of the Bank

1. Others

• Father’s Name of the Signing Person
• Designation of the Signing Person