How to File E-Form 15CA and 15CB?
When a
resident of India makes a remittance to a non-resident, the information
regarding the same must be provided to the Income Tax department as per the
Income Tax Act, 196. The purpose behind the formulation of such laws is that
taxes are collected timely.
Form filing 15CA is
done to provide a declaration by the remitter that any such remittances are
made to the non-resident.
Form filing 15CB is
not a declaration form instead it is a certificate issued by Chartered
Accountant ensuring that taxes are properly paid complying with the Income Tax
Act. The following information is included in Form 15CB-
a.
Details
of the remittance
b.
Nature
of payment made to the remittee.
c.
Compliance
of the payment with Section 195 of the Income Tax Act, 1961.
d.
Applicability
of the Double Taxation Avoidance Agreement (DTAA).
e.
Tax
Deducted at Source (TDS) rate to be deducted.
In this
article we will discuss the steps to be followed while filing Form
15CA and 15CB.
Guidelines
for filing Form 15CA:
The Form
15CA can be filed on the official website of the tax department i.e. income tax
e-filing portal. The taxpayer can file it online and submit it electronically
to concerned authorities hassle-free. The following steps are to be followed
while form filing 15CA:
1.
The
taxpayer is required visit the e-filling portal of the taxation department.
Using valid credentials they are required to login on the portal.
2.
From
the menu on top of the page, select E-file option and then click on the Income
Tax forms.
3.
The
PAN details of the taxpayer are pre-filled. From the Form Name drop-down menu
list, choose Form 15CA.
4.
From the select relevant part from the down
menu, select the required section.
5.
After
filling up the selected part in the form filing 15CA,
click the submit button.
6.
In
the verification section of part of Form 15CA, fill in the required details.
7.
It
is to be noted that while filing PART-C of Form 15CA, the taxpayer is required
to upload Form 15CB in advance as this section requires acknowledgement number
provided in Form 15CB.
8.
A
notification stating successful submission will pop up on the screen once the
form is filed successfully.
9.
A
confirmation notice is sent on the registered email id of the taxpayer.
Guidelines
for filing Form 15CB:
The
taxpayer while form filing 15CB is required to
add a Chartered Accountant to their e-filing account. The following steps are
to be undertaken to add the CA-
1.
Login
to the e-filing portal, select My Account, click Add CA.
2.
Enter
the CA’s membership number.
3.
Select
Form Name as 15CB and then click submit button.
Once the
CA is added in the taxpayer’s account the rest of the form can be filed by them
on behalf of the taxpayer. The following procedure is to be followed to file
form 15CB:
1.
In
the e-filing portal the user must be registered as an authorized Chartered Accountant.
If they are not registered already, they can click on the Register Yourself
link on the portal’s homepage.
2.
Under
the Tax Professional tab select Chartered Accountant and then click Continue.
3.
Enter
the details and complete the registration process.
Process
of Form Filing 15CB:
1.
From
the Downloads page, Download the Form 15CB and then prepare an XML file.
2.
Login
to the e-filing portal. Go to e-file option. Upload the form here. Enter the
PAN/TAN of the taxpayer, PAN of the CA.
3.
Select
the Form name as 15CB and then select the filing type as original.
4.
Upload
the XML file generated from the download utility.
5.
Using
the Digital Signature Certificate (DSC) Management utility for XML file, upload
the signature.
6.
Your
Form 15CB is successfully filed.
Consequences
of not filing Form 15CA and 15CB:
In case
the taxpayer or the remitter fails to furnish the details of the remittance
made to non-resident in Form 15CA and 15CB,
in that case they are liable to pay a penalty or fine as per Section 271I of
the Act. The penalty can be as much as up to Rs. 1 Lakh for non-compliance.
Revising
or cancelling Form 15CA and 15CB:
The
remitter can withdraw Form 15CA within 7 days from the date of its submission
on the concerned website.
Keyword:
Form 15CA and 15CB, Form Filing 15CA, Form Filing 15CB
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