New Guidelines to e-Furnishing of Form 15CA

For Form 15CA e-furnishing guidelines has been changed by NSDL TIN. The NSDL TIN has been taken so many changes in form 15CA to e-furnishing during the Assessment year 2012-13 and it will be completely different. The uprated guidelines for e-furnishing form 15 CA are as follows:

Procedure for furnishing information under sub-section (6) of section 195 of the Income-tax Act, 1961 read with rule 37BB of the Income-tax Rules, 1962.

General

• Form 15CA should be used for furnishing information of remittances in e-mode in accordance with the provisions of section 195 (6) of the Income-tax Act, 1961. The information should be furnished after obtaining a certificate in Form 15CB from an accountant as defined in the Explanation to section 288 of the Income-tax Act, 1961. The print out Form 15CA should be signed and submitted to the Reserve Bank of India/authorized dealer prior to remitting the payment.
• The Form should be furnished at the website of the Tax Information Network www.tin-nsdl.com.
• Fields marked with (*) are mandatory.
• Select the values from the drop down wherever provided.
• Each transaction detail should be filled in separately.
  

Guidelines for Part A of Form 15CA:
Remitter:

• Permanent Account Number (PAN) and Tax Deduction and collection Account Number (TAN) allotted by the Income Tax Department should be mentioned. TAN is mandatory in cases where-
• tax has been deducted or will be deducted at source;
• the remitter has obtained an order under section 195 (2) of the Income-tax Act from the Assessing Officer.
• In case an invalid PAN and/or TAN is filled in by the remitter, the Form will not be generated.
• In case the remitter does not have a TAN, it is mandatory to quote PAN of the remitter.
• PAN of the remitter should invariably be given. However, the same is mandatory if status of entity is Company or Firm. If PAN is not given in such cases, the remitter will not be allowed to generate the Form.
• Details in at least two address fields for remitter shoule be mentioned.
• Name of the entity should be mentioned in the “Name of remitter” field.
• No value is to be provided in Area code, AO type, Range code & AO number. The fields will be entered by the system after validating the PAN and/or TAN.
• Email id and mobile no., if any, should be provided.
  

Recipient of remittance:

• Complete address of recipient of remittance, separated by coma, should be provided.
• PAN, allotted by the Indian Income Tax Department should be mentioned.
• If status of entity is “company”, then provide type of company i.e., “domestic” or “other than domestic”.
• In the field “ Principal Place of Business”, the country of tax residence of the recipient of the remittance should be mentioned.
  

Information for accountant

• Enter name of the Chartered Accountant in the field “Name of the accountant”.
• Details in at least two address fields should be mentioned.
• Date of certificate should not be a future date.
• Registration no. should be numeric.
• Details of accountant are not required if point no. 15 is selected i.e. any order u/s 195 (2)/ 195 (3)/ 197 of the Income-tax Act has been obtained from Assessing Officer.
• Certificate number is an alphanumeric field.
  

Guidelines for PART B of the Form (Particulars of Remittance and TDS)

• Provide the values as per the accountant certificate obtained in Form 15CB.
• In case name of the country is not available in drop down list, select value “other” from the drop down and provide name of the country.
• In case currency name is not available in drop down then select value “other” from the drop down and provide name of the currency.
• Proposed date of remittance should be current date or a future date.
• Amount of TDS should be less than amount of remittance.
• Actual amount of remittance after TDS should be less than amount of remittance.
• Select type of the bank:
• Indian Bank (Bank of India, Dena Bank, Kotak Mahindra Bank Ltd. etc.)
• Foreign Bank (Standard Chartered Bank, HSBC, Citi Bank etc.)
• In case of “Indian Bank”, user will be required to provide “Name of the branch” and “BSR code”
• In case of “Foreign Bank”, user will be required to provide details of location of bank as below:
• Located in India
• Located outside India
• In case of foreign bank located in India, user will be further required to provide “Name of the branch” and “BSR code”
• In case of foreign bank located outside India, user will be further required to provide:
• Name of the branch
• BSR code (This will be optional)
• Code of branch (This will be mandatory)
• Rate of TDS as per DTAA (if applicable) should be mentioned upto two decimal places.
• Amount should be mentioned upto 2 decimal places.
• Select any one out of fields 12, 13, 14 and 16. One form is to be filled for one type of remittance.
• Details of “responsible person” should be mentioned for verification.
• If no tax has been deducted then value “0.00” should be mentioned in “Amount of TDS” field (foreign currency and Indian Rs.)
• Value for “rate of deduction as per the Income-tax Act” should be “0.00” if no tax has been deducted and “amount of TDS in Indian and foreign currency” should be “0.00”.
  

Generation of Form 15CA

• After filling up the information, click “submit”. On submission of details if system shows any errors, rectify and re-submit the form.
• A confirmation screen with all the data filled by the user will be displayed. The same can be either confirmed or edited.
• On confirmation, a filled up Form 15CA with an acknowledgement number will be displayed. Print out of the Form should be taken, signed and submitted prior to remitting the payment.
• Form 15CA can be re-printed by selecting the re-print option. For re-printing, please enter “acknowledgement no.”, “PAN” and/or “TAN” mentioned in the Form.
  

Posted in: Form 15G,Form 15H