Q.1074 Living in USA - How to

find CA in India to certify Form

15CA/CB?

Question: Sir, I came to USA on green card from India 20 years back. I invested in Indian company's from my after tax saving in India. That amount has now grown over the years. I want to transfer that invested money back to USA. What type of proof need to be provided to bank to prove that I have already paid tax on my investment. Since I live in USA, how I should locate CA in India to certify form 15CA/CB? Request urgent reply Answer: Documents such as TDS certificate, income tax returns are proof of whether taxes have been paid. Regardless of which part of the world one lives in today, finding a Chartered Accountant [CA] in India can be done by goggling for CA in India. There are some CA firms in USA also that offer help to US non-resident Indians deal with Indian tax and repatriation issues. Your bank where you have your Indian accounts may also be a source of information and help in locating a CA in India.

When is Form 15CA and 15CB NOT

required?

 Form 15CA and 15CB will be NOT be required to be furnished by an individual for remittance which do not requiring RBI approval  List of payments of specified nature mentioned in Rule 37 BB that may not require submission of Forms 15CA and 15CB. See list below: 1. Indian investment abroad -in equity capital (shares) 2. Indian investment abroad -in debt securities 3. Indian investment abroad-in branches and wholly owned subsidiaries 4. Indian investment abroad -in subsidiaries and associates 5. Indian investment abroad -in real estate 6. Loans extended to Non-Residents 7. Advance payment against imports 8. Payment towards imports-settlement of invoice 9. Imports by diplomatic missions 10. Intermediary trade 11. Imports below Rs.5,00,000-(For use by ECD offices) 12. Payment- for operating expenses of Indian shipping companies operating abroad. 13. Operating expenses of Indian Airlines companies operating abroad 14. Booking of passages abroad -Airlines companies 15. Remittance towards business travel. 16. Travel under basic travel quota (BTQ) 17. Travel for pilgrimage 18. Travel for medical treatment 19. Travel for education (including fees, hostel expenses etc.) 20. Postal Services 21. Construction of projects abroad by Indian companies including import of goods at project site 22. Freight insurance – relating to import and export of goods 23. Payments for maintenance of offices abroad 24. Maintenance of Indian embassies abroad 25. Remittances by foreign embassies in India 26. Remittance by non-residents towards family maintenance and-savings 27. Remittance towards personal gifts and donations 28. Remittance towards donations to religious and charitable institutions abroad 29. Remittance towards grants and donations to other Governments and charitable institutions established by the Governments. 30. Contributions or donations by the Government to international institutions 31. Remittance towards payment or refund of taxes. 32. Refunds or rebates or reduction in invoice value on account of exports 33. Payments by residents for international bidding.

When is Form 15C required?

Form No. 15CB will be required for payments made to non-residents which are taxable & the payment exceeds Rs. 5 lakh Rupees.