Home |Tax returns filing | I am an NRI but have a house in Gurgaon that I am putting on rent. I have been informed that the tenant needs to fill forms called Form 15CA and Form 15CB. What are these about and how are they to be used?

I am an NRI but have a house in Gurgaon that I am putting on rent. I have been informed that the tenant needs to fill forms called Form 15CA and Form 15CB. What are these about and how are they to be used?

Rahul
Answered on February 11,2020

A person making a remittance (a payment) to a Non-Resident or a foreign company has to submit Form 15CA. This form is submitted online to the income tax department. Where payment to be made exceeds INR5 lakh in a year and is taxable in India, a certificate from a chartered accountant in Form 15CB is required before uploading Form 15CA online. In Form 15CB, a chartered accountant certifies details of the payment, rate of tax deducted at source (TDS) and TDS deduction as per section 195 of the income-tax Act, if any Double Tax Avoidance Agreement (DTAA) is applicable. It will also have other details of the nature and purpose of the remittance. Banks require these certificates before they make any remittance to a non-resident. This helps the income tax department keep a watch on foreign payments and tax to be paid on them. List of payments mentioned in Rule 37BB do not require submission of form 15CA and 15CB. However, rental payments made to an NRI are not part of this list.

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