1. What is Form 15CB?
As per Section 195 of the Income-tax Act, 1961, every person liable for making a payment to non-residents shall deduct TDS from the payments made to non-residents if such sum is chargeable to Income tax and form 15CA and 15CB are the declaration for the same. Form 15 CB is the Tax Determination Certificate where the CA examines the remittance with regard to the Income Tax Act along with the provisions of Double Tax Avoidance Agreements then he certifies details of the payment, TDS rate and TDS deduction, if any DTAA is applicable, and other details of nature and purpose of the remittance. Filing of Form 15CB is mandatory prior to filling of Part C of Form 15CA.
2. Why is form 15CB used?
This form provides a declaration from CA that remittance made to a non-resident is made in due course of the income tax act and all the necessary taxes have been duly deducted Form No. 15CB will only be required for payments made to non-residents, which are taxable and if the payment exceeds Rs. 5 lakhs.
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