Sir,I had received professional service of S$ 1000 (approx Rs. 52000) from the company located in S…
Sir,
I had received professional service of S$ 1000 (approx Rs. 52000) from the company located in Singapore. The bank is asking for Form 15CA for the payment. Please let me know what is this form? And how can I get this form?
Form 15CA is the form specified by the government to track the foreign remittance. It is your declaration of payment which includes the details of;
- Nature and amount of payment
- Remitter(you)
- Receiver of payment
- Bank
- Tax
Bank does not proceed your payment without 15CA.
This form is available in Income Tax website. You can prepare and submit it online.
Login into income tax website>click on e-filing> income tax form and select Form 15CA.
Fill the form and submit it with the DSC of authorised person for making payment.
After filing with income tax department, download it and present to the bank. On the receipt of form 15CA, bank will proceed your payment.
In case your payment is more than Rupees five lakhs, you have to present the Form 15CA along with 15CB. Form 15CB is certification of Chartered Accountants and to be filed by him to the income tax department.
