Form 15CB – Applicability, Documents Required & Non-Compliance

Particular	Details	Relevant Section/Rule
Applicability
Remitter	Resident making payment to a non-resident	Sec. 195
Taxability	Remittance chargeable to tax under the Income-tax Act	Sec. 5, Sec. 9, Sec. 195
TDS Requirement	Tax deductible at appropriate rate	Sec. 195, Sec. 90(2)
Rule 37BB Exemptions	Not required for 33 specified transactions	Rule 37BB(3)
Filing of Form 15CA	Part C to be filed if tax deductible and supported by Form 15CB	Rule 37BB(2)
Documents Required
Invoice/Agreement	To identify nature and amount of remittance	Sec. 195
TRC (Tax Residency Certificate)	Claim DTAA benefit	Sec. 90(4), Rule 21AB
PAN of Remitter	Mandatory for remitter identification	Sec. 139A
Beneficiary & Bank Details	Required to link parties and trace remittance	Rule 37BB(2)
Form 10F & No PE Declaration	Proof of tax residency and no fixed base in India	Sec. 90(5), Rule 21AB(1)
Bank Advice/Remittance Proof	Supporting documentation for correctness	Rule 37BB
TDS Working/CA Computation	For CA to certify correct rate of deduction	Sec. 195(6), Form 15CB
Consequences of Non-Compliance
Not obtaining Form 15CB	Bank may deny remittance; violation of tax/FEMA obligations	Sec. 195 r/w Rule 37BB
Incorrect Certification	CA liable for ₹10,000 penalty per incorrect report	Sec. 271J
Non-deduction of TDS	Interest @1%/1.5% per month, disallowance of expense, penalties	Sec. 201(1A), Sec. 40(a)(i)
Non-filing of 15CA/15CB	Penalty ranging from ₹10,000 to ₹1,00,000	Sec. 271H

Statutory Sources:

• Income-tax Act, 1961

• CBDT Notification No. 93/2015

• Rule 37BB – Income-tax Rules, 1962