Alankit.ae | Issuance Of 15CA/CB Certificate

OVERVIEW

Section 195 of the Income Tax Act, 1961, says that it is mandatory to deduct Income Tax from payments made to Non-Residents. This is where the concept of Form 15 CA and CB comes into existence. As per the Act and its allied rules, the person making payment/ remittance to Non – Resident holds the responsibility to furnish an undertaking (in form 15CA) attested by a Chartered Accountants Certificate in Form 15CB.

15CB is a Chartered Accountant (CA) Certificate for individuals who want to send funds/money from their NRO (Non-Resident Ordinary) Account to NRE (Non-Resident Rupee) Account net of applicable taxes (if any), and 15CA Form is a declaration of remitter (Individual).

Both these Certificates are given to the Bank’s RM for completing the Transfer of Funds.

The process related to 15 CA/CB can be explained in Five Simple Steps:

STEP 1: ADD A CA BY LINKING THROUGH THE CLIENT’S ONLINE INCOME TAX ACCOUNT

The first step is to link CA’s membership details online by accessing the Income Tax Account of our Client.

STEP 2: DETAILS REQUIRED FROM CLIENT TO COMPLETE THE REQUIRED INFORMATION TO FILE 15CB

Details of Remitter

  • Name of the Remitter.
  • Address of the Remitter.
  • PAN of the Remitter.
  • Principal Place of business of the Remitter.
  • The E-Mail Address and phone number of the Remitter.
  • Status of the Remitter (Firm/Company/Other).

Details of Remittee

  • Name and Status of the Remittee.
  • Address of the Remittee.
  • Country of the Remittee (country to which remittance is made).
  • Principal Place of the Business of the Remittee.

Details of the Remittance

  • Country to which Remittance is Made.
  • Currency in which Remittance is Made.
  • Amount of Remittance in Indian Currency.
  • Proposed Date of Remittance.
  • Nature of Remittance as per Agreement (Invoice Copy to be Asked from the Client).

Bank Details of the Remitter

  • Name of the Bank of the Remitter.
  • Name of Branch of the Bank.
  • BSR Code of the Bank.

Others

  • Father’s Name of the Signing Person.
  • Designation of the Signing Person.

STEP 3: PREPARE & UPLOAD THE 15CB CERTIFICATE

Once all the details and information required are in place, we need to prepare the 15CB Form Java Utility which is available online on “Forms (Other than ITR)” under the Downloads section. Once the documents are uploaded, an Acknowledgment Number will be generated which is mandatory for filling the 15CA Form.

Note: DSC (Digital Signature Certificate) of the CA is Mandatory to File Form 15CB online.

STEP 4: PREPARE & UPLOAD THE 15CA FORM

Form 15CA has 4 parts as mentioned below. Depending on the amount and taxability of remittance, specific parts of Form 15CA need to be filled:

Part Description
Part A If remittance is taxable and the total value of such remittance or remittances during the Financial Year is less than Rs. 5 lakhs.
Part B If remittance is taxable and the total value of such remittance or remittances during the Financial Year is more than Rs. 5 lakhs and an order/ certificate u/s 195(2)/ 195(3)/ 197 of Income Tax Act has been obtained from the Assessing Officer.
Part C If remittance is taxable and the total value of such remittance or remittances during the Financial Year is more than Rs. 5 lakhs along with a certificate in Form No. 15CB from an accountant as defined in the Explanation below sub-section (2) of Section 288 has been obtained.
Part D If the remittance is not taxable other than payments referred to in rule 37BB (3) by the person referred to in rule 37BB (2).

15CA Form is also available on the client’s income tax account. You need to fill in the details required and make sure the Amount of Funds repatriated does not exceed USD 1 Million in the current F.Y. One must fill in all the details including the Acknowledgment Number generated before finally submitting the 15CB Form online.

STEP 5: SIGNATURE OF THE REMITTER

Both Forms once uploaded on the Income Tax Website; need to be downloaded from the Client’s Dashboard. Along with it, 2 Copies of both the forms should be provided to the Client and he or she needs to sign on Form 15CA (only on the Fourth Page). Please note that 1 Set of the Copy is for record-keeping.

For any further queries or information related to the company’s services, feel free to get in touch with us. Simply fill your query related to services in the form below mentioned and our dedicated executive team will be in touch with you shortly. (Within 24 hours)

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Privacy Policy

The Privacy Policy covers how the personal information collected from the clients who register for the services and use payment gateway services will be handled, as well as the treatment of the consumer information that we acquire in the course of our business. This Policy is specific to Alankit.ae and does not apply to any other websites or Internet services that are part of or to be part of the Alankit Network.

We at Alankit are committed to protect our customers’ personal information and/or sensitive personal data and strive to maintain the privacy of your personal information. Alankit only collects the necessary personally, identifiable information in order to respond to the requests received from the clients for our customized products and services. Personally identifiable information includes, but is not limited to, first and last name, physical address, e-mail address, phone number, and any other information that itself identifies or when tied to the above information, may identify you as a specific individual.

All credit/debit cards details and personally identifiable information will NOT be stored, sold, shared, rented or leased to any third parties. The User agrees that the debit/credit card details provided by him/ her must be correct and accurate and that the User shall not use a debit/ credit card, that is not lawfully owned by him/ her or the use of which is not authorized by the lawful owner thereof.

Alankit reserves the right to amend or modify this Privacy Policy at any time, as and when the need arises. We request you to visit our website www.alankit.ae periodically for contemporary information and changes. Modifications will be effective from the date they are posted on the website.

If you believe that the company has not adhered to this privacy statement, please contact us by email at info@alankit.com, and we will use commercially reasonable efforts to promptly determine and remedy the problem, if any.

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Terms & Conditions

Once the user has accepted the terms & conditions, he/she may be entitled to register and avail the services offered by the Company. The Payment Gateway service is provided to you in order to facilitate access to the services and pay the fee online.

We accept payments online using Visa and Master Card Credit/Debit Card in AED (or any other currency). Any dispute or claim arising out of or in connection with this website shall be governed and construed in accordance with the laws of UAE.

The Company will maintain the confidentiality of each transaction and will not collect or otherwise deal in commercially sensitive information, except to the extent necessary for the Services.

In no event will Alankit, be liable for any damages whatsoever arising out of the use, inability to use, or the results of use of this site, any websites linked to this site, or the materials or information contained at any or all such sites, whether based on warranty, contract, tort or any other legal theory and whether or not advised of the possibility of such damages.

Alankit reserves the right, at our sole discretion, to change, modify, add or remove portions of these Terms of Use, at any time without any prior written notice to you. It is Your responsibility to review these Terms of Use periodically for updates / changes. Your continued use of the Website following the posting of changes will mean that you accept and agree to the revisions.

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Refund Policy for Online Payment

In case the service facility is not delivered/provided as committed at the time of Payment acceptance, you may ask for a refund of the payment made. The request for refund is to be submitted along with the reasons, the same will be forwarded for review of the Management. The management will take an appropriate decision after looking into your request.

The person will not be entitled for any refund if the service request is already accepted and documentation is in process. Please note that there will be a nominal deduction of 10% on the payment made, payable towards the administration fee.

Cash refunds are not available. The refund will be processed automatically and will be credited back to the original credit/debit card or bank account from which the payment is made.

The Refund Policy will only be applicable for the online payments made, it will not include any other transactions.

All refund requests are to be submitted to alankitglobal@alankit.com. The request will be processed in 4-5 working days and the refund ( if applicable) will be made in 30 days time period.

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