Filing of form 15CA and 15CB – Some practical issues
Form 15CA and 15CB Normally, when any money is to be remitted outside India, the bankers often ask for the copies of form 15CA and 15CB which need to be filed electronically. It means that firstly the assessee need to upload form 15CA and 15CB electronically which requires e- verification through EVC mode and later copy of same need to be submitted to the banker for further processing of remittance outside India. Form 15CA and 15CB need to be filed even if all the taxes are already paid in India. Therefore, one cannot take a plea that since all the taxes are already paid, so what is the need for electronically uploading form 15CA and 15CB. For instance, often when an NRI disposed of his property in India, He need to compute capital gain tax liability, sometimes there is no capital gain tax but refund in the case of the assessee. However, while making remittance of sale proceeds, He needs to submit copy of form 15CA and 15CB. Another issue which normally arises in c...