Managing foreign remittances requires strict compliance with regulatory requirements, and filing Form 15CA and Form 15CB is a critical part of this process. At Astute Business Advisors, we provide expert assistance in the preparation, certification, and filing of these forms to ensure your cross-border transactions are handled smoothly and in full compliance with Indian tax laws.

What are Form 15CA and 15CB?

Form 15CA is a declaration of the remitter, detailing the payments made to a non-resident and confirming that appropriate taxes have been deducted at source, if applicable. This form serves as a tool for the Income Tax Department to track foreign remittances and ensure that taxes are collected on these transactions.

Form 15CB is a certificate issued by a Chartered Accountant (CA) certifying that the tax deduction at source (TDS) on foreign remittances is in accordance with the provisions of the Income Tax Act. It includes details of the remittance, such as the nature of the payment, the applicable tax rate, and the amount of TDS deducted.

When is Form 15CA/15CB Required?

• Taxable Remittances: If the remittance is subject to tax in India, Form 15CA is mandatory, and Form 15CB may be required based on the threshold limits.
• Non-Taxable Remittances: In certain cases, even if the remittance is not taxable in India, Form 15CA must be filed, and Form 15CB may be required, depending on the nature of the transaction and the amount being remitted.
• Threshold Limits: Form 15CB is required for remittances exceeding ₹5 lakh in a financial year. For smaller amounts, only Form 15CA may suffice.

Our Form 15CA and 15CB Services

Astute Business Advisors offers comprehensive support in the preparation and filing of Form 15CA and Form 15CB, including:

• Assessment of Transaction: We analyze the nature of your remittance to determine the applicable tax provisions and whether Form 15CB is required.
• Preparation of Forms: Our team prepares Form 15CA with accurate details of the remittance, ensuring that all necessary information is included.
• CA Certification: Our experienced Chartered Accountants provide the required certification for Form 15CB, ensuring compliance with all relevant tax laws and regulations.
• Filing with Authorities: We handle the entire filing process with the Income Tax Department and provide you with the necessary documentation for your records.
• Advisory Services: We offer expert advice on tax planning related to foreign remittances, helping you minimize tax liabilities and avoid potential issues with regulatory authorities.

Why Choose Astute Business Advisors?

• Expert Guidance: With extensive experience in handling foreign remittances and tax compliance, our team provides reliable and accurate services.
• Compliance Assurance: We stay up-to-date with the latest tax regulations and ensure that your filings are fully compliant with current laws.
• Timely Execution: We understand the importance of timely filings and ensure that your forms are submitted within the required deadlines.
• Personalized Service: Our approach is tailored to meet the specific needs of your business, ensuring that you receive the best possible advice and support.