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Question ID : 40870

payment to NRI u/s 195

X a resident individual purchased a house property worth Rs 100 L, from NRI in India. The payment was made after deducting TDS at lower rate upon furnishing of certificate by NRI. We filed the TDS return, but we came to know that the traces did not allowed the lower rate of tds certificate, and raised a demand of full rate ie 10%+Cess . I found a mistake in drafting of certificate no , as the same was noticed by me in the qtrly tds return file redrived by traces. I get it corrected. But do we require to submit form 15CA/CB also. If we have earlier not submitted the same can we submit now. or is it an error due to misprint of lower certificate no. So far 15CA/CB is required in banking transactions. so do we have to mandatorily file form 15CA/CB for claiming lower tds rate in traces or not, please advice

Posted by pradeep kumar agrawal on Oct 15, 2020

Filed Under TDS/TCS

Answer ID : 80778

Since certificate u/s 195(2)/197 of Income Tax Act,1961 has been obtained from the A.O then form 15 CA (fill Part B) is required and Form 15 CB is not required.

Posted by B.CHACKRAPANI WARRIER on Oct 15, 2020