Question ID :
40643
15 CB
Dear All
What are the main points which needs to be checked/clarified before issuing 15 CB Form?
Kindly Advice.
Posted by
SIVAPRASAD MUTHUKARUPPAN
on
May 06, 2020
Filed Under
DIRECT TAXES
1. Does the payment made is above 5 lakh or below.
2. What is the purpose of payment. If it is for the 33 reason mentioned in section 195, then no need of 15CA and 15CB.
3. Whether any advance order taken from AO for lower tax or nil tax. If yes, 15 CB not required.
4. If payment is above 5 lakh, not covered in 33 purpose, and no AO order. 15 CB need to be submitted.
5. Check the rate of TDS applicable?
6. Is there any DTSA regarding that country and purpose for which benefit is given in TDS rate?check reduced rate is applied.
Posted by
CA Yogesh Kumar on
May 07, 2020
Answer ID :
80512
Apart from the point mentioned by Yogesh ji, the other point are
1. Rate of exchange for conversion of foreign currency into INR
2. Determination of whether payment is issued net of taxes or grossing is to be made.
3. Whether benefit of DTAA is to be obtained if yes please consider the following point:-
a) Declaration regarding the PE in India
b) Obtained TRC from recipient
c) Whether recipient is having PAN in India. if not, Is there any impact on WHT.
4. Further most important, don't forget to obtain UDIN from ICAI
Thanks & Regards
Posted by
CA. SATISH CHAND GARG on
May 07, 2020