15CA, CB CERTIFICATION

Section 195 of the Income Tax Act 1961 and Rule 37 BB of Income Tax Rules, 1962. No remittance should be made to a non-resident without furnishing an undertaking in Form 15 CA. It may be required to be accompanied by a Certificate from a Chartered Accountant in Form 15CB hence any Person making the Payment to non- resident shall have to comply Form 15 CA rule and may obtain (depending upon transaction limit) a certificate from a Chartered Accountant in Form 15CB.

AVS & Associates can help you identify the transactions which are covered under mandatory filings and file Form 15 CA and/or For 15 CB after through checking and analyzing  Indian Income Tax Act’ 1961 and DTAA with the respective country.

Frequently Asked Questions​

Form 15CA is a remitter declaration which is used as a method to gather information on payments that are taxable in the hands of non-resident recipients. The form 15CA is therefore required to be registered with the tax department online.

  • The Remitter shall electronically upload Form 15CA.
  • The Information furnished in the Form 15CA is to be filed using the information contained in Form 15CB.
  • The duly signed form Form 15CA and Form 15CB shall be submitted in duplicate to the Bank. The Bank will then forward a copy of the Certificate and undertaking to the assessing officer concerned.
  •  

Section 195 of the Income Tax Act , 1961, requires the deduction of Income Tax from Non-Resident payments. The person making the transition to non-resident must furnish an undertaking (in 15CA form) followed by a Certificate of Chartered Accountants in Form 15CB

Yeah, Form 15CA can be revoked within 7 days of the date of submission. The path to revoke the form submitted will be available on the Assessee website concerned.

If an Assessee who is expected to file Form 15CA 15CB does not furnish the same before making a remittance to a non-resident, he is liable for penalties under section 271I of the 1961 Income Tax Act. Such penal requirement shall be attracted even if the individual has given the information inaccurately. Rs.1lakhs is the amount of penalty that the Assessing officer may require the Assessee to pay for Non-compliance.

For remittance, a person is not required to provide the information in Form 15CA and 15CB that does not require RBI approval.

1 Indian investment abroad – in equity capital (shares)
2 Indian investment abroad – in debt securities
3 Indian investment abroad- in branches and wholly-owned subsidiaries
4 Indian investment abroad – in subsidiaries and associates
5 Indian investment abroad – in real estate
6 Loans extended to Non-Residents
7 Advance payment against imports
8 Payment towards imports- settlement of the invoice
9 Imports by diplomatic missions
10 Intermediary trade
11 Imports below Rs.5,00,000- (For use by ECD offices)
12 Payment- for operating expenses of Indian shipping companies operating abroad.
13 Operating expenses of Indian Airlines companies operating abroad
14 Booking of passages abroad -Airlines companies
15 Remittance for business travel.
16 Travel under basic travel quota (BTQ)
17 Travel for pilgrimage
18 Travel for medical treatment
19 Travel for education (including fees, hostel expenses etc.)
20 Postal Services
21 Construction of projects abroad by Indian companies including import of goods at the project site
22 Freight insurance – relating to import and export of goods
23 Payments for maintenance of offices abroad
24 Maintenance of Indian embassies abroad
25 Remittances by foreign embassies in India
26 Remittance by non-residents towards family maintenance and savings
27 Remittance towards personal gifts and donations
28 Remittance towards donations to religious and charitable institutions abroad
29 Remittance towards grants and donations to other Governments and charitable institutions established by the Governments.
30 Contributions or donations by the Government to international institutions
31 Remittance towards payment or refund of taxes.
32 Refunds or rebates or reduction in invoice value on account of exports
33 Payments by residents for international bidding.

If an Assessee who is required to file Form 15CA 15CB fails to furnish the same before making remittance to a non resident, then he has shall be liable to penalty provisions under section 271I of the Income tax Act , 1961. ... Yeah, it is possible to withdraw Form 15CA within 7 days of the date of submission.

In Form 15CB, we are expected to provide information such as the remitter's particulars, the remitter's particulars, the essence of the remittance, including royalty, wages, commission etc. In the case of DTAA (Double Taxation Avoidance Agreement), the remitter 's tax citizenship certificate and bank information of the remitter

Why Select Us?

OUR STRENGTH LIES IN PROVIDING REAL WORLD PRACTICAL SOLUTIONS

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TIMELINE

Our foremost priority is to provide Instant Support and are always very particular on adherence of timely delivery so that you don’t miss out on deadline. We have worked with some most time strict clients and we have never missed our target. Our one thumb rule says that “If we miss a deadline we are out”. Accounts and Finance function need always alert eagle eye approach!

MINIMUM
COST

Our prices are most reasonable and under budget that you never realize any cost burden in your organization in comparison of value addition we bring in. We believe in adoption of your business first and fee shall take care of itself mantra. We never bill for disappointment and take ownership. It is how we like to be treated and that is how our customers are served.

ONE STOP
SOLUTION

We at AVS & Associates only recruit experienced, skilled professionals who have proven expertise in their field. With a diverse Team of Chartered Accountants, Company Secretaries, Lawyers, and various other consultants on board, we offer end to end financial and legal service under one roof saving time and energy and bring synergy effect between various functions.

TRUST & RELIABILITY

Having over 20+ years experience in the leadership team ensure we maintain highest ethical standards and never go out of trust with you. We always believe in long term relationship with our clients hence integrity is something we value the most. We ensure transparency in communication, service and cost. Our specialized experts helps in maintaining high quality.

Don't believe us? See our Google ratings!

SAM GETSUGA
SAM GETSUGA
2020-09-06
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AVS and associates is extremely professional. They take care of all The things abiding by law and integrity whether it’s a tax management or company registration. They have registered a company and took care of the taxes without me breaking a sweat, they took care of everything proactively. I’m extremely satisfied and would recommend to anyone and everyone.
Kavita Sharma
Kavita Sharma
2020-09-02
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AVS and associates is a very professional team. They handle all things abiding by law and takes out your burden of tax management , assets and all very very precisely up to the point. It’s great working with the team.
Laxmi Kant Thakur
Laxmi Kant Thakur
2020-08-28
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Chrishans Media
Chrishans Media
2020-03-03
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Hitesh Gurditta
Hitesh Gurditta
2020-03-01
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DR V K Arora
DR V K Arora
2020-09-06
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AVS & Associates is a reliable CA firm of Delhi NCR. My company Management Associates Private Limited is taking their services from last ten years. Shri. V K Agrawal of AVS & Associates is knowledgeable, friendly and honest person.
Andrew Samta
Andrew Samta
2020-09-02
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had a nice experience with AVS. was in a urgent need of some income tax related docs and these guys helped out in really quick time. thanks, and would recommend anyone planning to avail their services....
chiranjibi shah
chiranjibi shah
2020-02-29
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A wonderful experience with the team for the easy way out solutions of taxation and related matters...Thanks
Amitabh Kulshreshtha
Amitabh Kulshreshtha
2020-09-02
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I appreciate the fastest way of services by AVS. Till now we got registered around 6 group companies,(Limited, Private Limited and LLP). Their Teams approach to deal with us was something I liked most. Special mention to Mr. Rahul and Ms. Neha. Guys, frankly speaking initially i was in doubt whether to trust these people or not? but once spoke and saw the way they handled my companies formation work, they ended up forming our all group companies and now handling the regular Accounting, Taxation, GST etc... If you are searching for a CA for all your needs, i suggest you may pick these guys and can assign one task before you make any opinions. BTW, we are availing their services since last 3 years. Thanks!
Kavita Sharma
Kavita Sharma
2020-09-02
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AVS and associates is a very professional team. They handle all things abiding by law and takes out your burden of tax management , assets and all very very precisely up to the point. It’s great working with the team.
Saurabh Verma
Saurabh Verma
2020-02-29
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I used their services for capital gain calculation and on many other factors to sell my flat in Noida while I'm here in Australia. Mr Vishnu is the man you need. Very professional, prompt replies and went an extra mile to do the job. Highly recommended.
Raj Malhotra
Raj Malhotra
2020-02-29
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Some highly talented group of indivisuals who do really care for customer satisfaction
Thefairyforce
Thefairyforce
2020-02-29
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I'm very satisfied with the service here. They have a very good behavior towards us and they listen to our problems closely and give the best solution. If you're starting up or running a business already I would recommend you to come here they are awesome!
Arpit Mathur
Arpit Mathur
2020-02-29
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There is environment and relation of every employee is very good. Management and discipline is very tough.
Singh Robin
Singh Robin
2020-02-29
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Highly Professional team. Really appreciate the way team coordinated & made everything easy for me. Thank you & wish you all the very best. Cheers.
ezam zaidi
ezam zaidi
2020-02-29
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Have been very cooperative. Proactive with every step. The team was patient and they made sure the entire process flow was smooth.
Manish Sharma
Manish Sharma
2020-02-29
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I got my company registered with avs. I am happy with their services and it was done quickly and in cost effective manner. Recommend anyone want to avail their services.
Pranav Tripathi
Pranav Tripathi
2020-02-29
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Vishnu ji has been with our company for the past 10 years with many different companies . Soft spoken, humble and a thorough professional.
Kishore Kundan
Kishore Kundan
2020-02-29
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Very fast service with cost effective..Agarwal sir behavior is very supportive.. I will suggest all to take services from AVS..
Sushil Kumar Raj
Sushil Kumar Raj
2020-02-29
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I would say they are the best for new company and start ups, the way they deal with person who do not have any idea about setting up of new company is remarkable....