Step by Step Procedure for furnishing the form 15CA and CB

According to the section 195 of the 1961 Income Tax Act, every single person who is liable for  making payment to all the non residents, their TDS shall be deducted from the payment done by them. The amount given to the non-residents at the rates of force shall also be deducted. In this 15 CA CB are the major factors, it matters a lot. The RBI also makes it mandatory, apart from some critical cases which are specially mentioned in this act, no remittance can be made to a nonresident unless it is furnished under the undertaking of 15 CA CB. Usually 15CA is accompanied by CB.

The complete procedure of furnishing the form 15 CA CB:

• The one who is making the payment will have to electronically upload the undertaking which contains the details about the department.

• The information contained in the form has to be filled using the information in the 15 CB

• The remitter will have to take out a print for this filled form and will have to sign it. Later 15 CA CB has to be signed by the one who is authorized to sign the returning income of the remitter or the person who is authorized in terms of the written form

• The signed forms from 15 CA CB has to be submitted in duplicate copy to the RBI or any authorized dealer. The RBI then has the responsibility of forwarding the copy of this certificate to the concerned officer

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