{"id":1141,"date":"2025-06-09T06:29:57","date_gmt":"2025-06-09T06:29:57","guid":{"rendered":"https:\/\/consultcaonline.com\/?p=1141"},"modified":"2025-08-02T15:31:26","modified_gmt":"2025-08-02T15:31:26","slug":"short-note-on-applicability-documents-required-non-compliance-for-form-15cb","status":"publish","type":"post","link":"https:\/\/consultcaonline.com\/index.php\/2025\/06\/09\/short-note-on-applicability-documents-required-non-compliance-for-form-15cb\/","title":{"rendered":"Short Note on Applicability, Documents Required & Non-Compliance for Form 15CB"},"content":{"rendered":"\n

Form 15CB \u2013 Applicability, Documents Required & Non-Compliance<\/p>\n\n\n\n

Particular<\/td>Details<\/td>Relevant Section\/Rule<\/td><\/tr>
Applicability<\/strong><\/td> <\/td> <\/td><\/tr>
Remitter<\/td>Resident making payment to a non-resident<\/td>Sec. 195<\/td><\/tr>
Taxability<\/td>Remittance chargeable to tax under the Income-tax Act<\/td>Sec. 5, Sec. 9, Sec. 195<\/td><\/tr>
TDS Requirement<\/td>Tax deductible at appropriate rate<\/td>Sec. 195, Sec. 90(2)<\/td><\/tr>
Rule 37BB Exemptions<\/td>Not required for 33 specified transactions<\/td>Rule 37BB(3)<\/td><\/tr>
Filing of Form 15CA<\/td>Part C to be filed if tax deductible and supported by Form 15CB<\/td>Rule 37BB(2)<\/td><\/tr>
Documents Required<\/strong><\/td> <\/td> <\/td><\/tr>
Invoice\/Agreement<\/td>To identify nature and amount of remittance<\/td>Sec. 195<\/td><\/tr>
TRC (Tax Residency Certificate)<\/td>Claim DTAA benefit<\/td>Sec. 90(4), Rule 21AB<\/td><\/tr>
PAN of Remitter<\/td>Mandatory for remitter identification<\/td>Sec. 139A<\/td><\/tr>
Beneficiary & Bank Details<\/td>Required to link parties and trace remittance<\/td>Rule 37BB(2)<\/td><\/tr>
Form 10F & No PE Declaration<\/td>Proof of tax residency and no fixed base in India<\/td>Sec. 90(5), Rule 21AB(1)<\/td><\/tr>
Bank Advice\/Remittance Proof<\/td>Supporting documentation for correctness<\/td>Rule 37BB<\/td><\/tr>
TDS Working\/CA Computation<\/td>For CA to certify correct rate of deduction<\/td>Sec. 195(6), Form 15CB<\/td><\/tr>
Consequences of Non-Compliance<\/strong><\/td> <\/td> <\/td><\/tr>
Not obtaining Form 15CB<\/td>Bank may deny remittance; violation of tax\/FEMA obligations<\/td>Sec. 195 r\/w Rule 37BB<\/td><\/tr>
Incorrect Certification<\/td>CA liable for \u20b910,000 penalty per incorrect report<\/td>Sec. 271J<\/td><\/tr>
Non-deduction of TDS<\/td>Interest @1%\/1.5% per month, disallowance of expense, penalties<\/td>Sec. 201(1A), Sec. 40(a)(i)<\/td><\/tr>
Non-filing of 15CA\/15CB<\/td>Penalty ranging from \u20b910,000 to \u20b91,00,000<\/td>Sec. 271H<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Statutory Sources:<\/h1>\n\n\n\n

\u2022 Income-tax Act, 1961<\/p>\n\n\n\n

\u2022 CBDT Notification No. 93\/2015<\/p>\n\n\n\n

\u2022 Rule 37BB \u2013 Income-tax Rules, 1962<\/p>\n","protected":false},"excerpt":{"rendered":"

Form 15CB \u2013 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 […]<\/p>\n","protected":false},"author":2,"featured_media":1143,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"_links":{"self":[{"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/comments?post=1141"}],"version-history":[{"count":3,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/posts\/1141\/revisions"}],"predecessor-version":[{"id":1156,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/posts\/1141\/revisions\/1156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/media\/1143"}],"wp:attachment":[{"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/media?parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/categories?post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consultcaonline.com\/index.php\/wp-json\/wp\/v2\/tags?post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}