Form 15CA is a one type of declaration of remitter who is non-resident. It is used as information collector of payments. These payments are chargeable to the tax in the hand of Non-resident tax payers. Form 15CA is helping to trace tax of those people who are paying money in the hand of non resident tax-payers.
Form 15CA generate in only one situation i.e. if payment is taxable in India. If tax payer is NRI but value of transaction is not taxable then you don’t need a form 15CA. Form 15CA enforceable under section 195 of the income tax 1961.
Form 15CA contains 4 part of the form i.e. part-A, part-B, part-C, and part-D.
Now, let’s see
Form 15CA is holding 4 parts but, you need to fill up only one and it is as per rules and regulation of the income tax act 1961.
Part A is filling up when the amount of remittance is chargeable for tax under income tax act 1961. The amount should not be more than 5 lacs rupees during the assessment year.
Part B is filling up when the value of remittance amount is taxable. The remittance amount is bestriding than 5 lacs during assessment year. An order certificate obtained from Assessing officer as per rule 195(2)/195(3)/197 of the income tax act 1961.
Part C is filling up if the remittance amount is taxable, and in case of remittance value exceeds than 5 lacs rupees. In this case, a certificate is joining with form 15CB by an accountant under section 288(2) of income tax 1961.
Part D is filling up when the amount is not taxable as per Income Tax Act.
Form 15CA Contains
Details of Remitter
Name of the remitter
PAN of the remitter
TAN of the remitter
Contact detail of Remitter
Status of remitter
Residential status of remitter
Recipient of Remittance
Name of Recipient of remittance
PAN Recipient of remittance
Contact Detail of Recipient of remittance
Country of Recipient of remittance
Amount before TDS
Bank Branch’s name
Remittance of proposed date
Nature of remittance
Rate & amount of TDS
Now, you need to verify your given data.