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  News & Events
 
15/07/2024
Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports
13/07/2024
Audit Panels of Companies should step up Engagement with Auditors - NFRA
CBIC issues fresh norm for recovery of GST dues
SEBI recognises BSE as supervisory body for research analysts, investment advisers
11/07/2024
CA Intermediate and Final May 2024 Exam Pass percentage and Toppers
10/07/2024
RBI urges CFOs of Banks to maintain open, honest communication with Auditors
Increase in size of documents upload for GST New Registration and Amendment
09/07/2024
NCLT bars CA from being appointed as statutory auditor for colluding with company’s fraudulent activities
 
 
  Notification/Circulars
13/07/2024
Processing of refund applications filed by Canteen Stores Department (CSD).
Mechanism for refund of additional Integrated Tax (IGST) paid on account of upward revision in price of the goods subsequent to export.
Clarification on various issues pertaining to taxability and valuation of supply of services of providing corporate guarantee between related persons.
Guidelines for recovery of outstanding dues, in cases wherein first appeal has been disposed of
11/07/2024
Remittances to International Financial Services Centres (IFSCs) under the Liberalised Remittance Scheme (LRS)
Basel III Capital Regulations - Eligible Credit Rating Agencies (ECAI) - RBI
03/07/2024
Release of foreign exchange for Miscellaneous Remittances - RBI
Online submission of Form A2: Removal of limits on amount of remittance - RBI
25/06/2024
SEBI Master Circular for Electronic Gold Receipts (EGRs)
22/06/2024
Priority Sector Lending – Amendments to the Master Directions - RBI
Article Details
Regarding Form 15CA & 15CB

Rule 37 BB of the Income- Tax Rules has been amended to strike a balance between reducing the burden of compliance and collection of information under section 195 of the Act. The amended rules will become applicable from 01.04.2016.

 

Significant changes made under the rules are:-

 ü  No Form 15CA and 15CB will be required to be furnished by an individual for remittance which do not requiring RBI approval under its Liberalised Remmittace Scheme (LRS).
 

ü  Further the list of payments of specified nature mentioned in Rule 37 BB which do not require submission of Forms 15CA and 15CB has been expanded from 28 to 33   including payments for imports.

 ü  A CA certificate in Form No. 15CB will be required to be furnished only in respect of such payments made to non-residents which are chargeable to tax and the amount of payment during the year exceeds Rs. 5 lakh.
 

Further, Form 15CA has now been divided in four parts viz. Part-A, B, C & D from earlier two parts.