Central Board of Direct Taxes has recently revised the rules and procedures for payment to NRI. The updated rule will be effective and applicable for all the payments made from October 1, 2013 onwards.
As per the revised rules, form 15CA and CB are required only in the following cases:
1. For payment that does not exceed INR 50,000 or aggregate of payment does not exceed INR 250,000 in a financial year (April-March for India), Only Form 15CA Part A to be furnished.
2. For any other payment, Chartered Accountant Certificate in the Form 15CB format to be obtained and Part B of the Form 15CA to be furnished to the Income Tax department.
1. Form 15CA
2. Form 15CB, if required
3. Form A2
4. Other documents as required by the Bank
Once all duly filled documents are submitted to the Bank, the Bank will process the application and if find all documents in order, will remit the funds as desired.
In case you need any support for the same, do reach us at info@nritaxhelp.com or at +91-98196-32262. We can help you with the issuance of form 15CB, help in filling up 15CA and any other related information.