Foreign Remittance, Income Tax

[CA Rachit Agarwal]

I want to know whether every remittance would be accompanies by Form 15CA and 15CB?

or requirements of Form 15CA and 15CB will only be required whether there are deduction of TDS pursuant to Section 195?

Posts / Replies

[GOPALJI AGRAWAL]

Dear Rachitji,

As per statute, these forms need to be issued only in case income of the recepient is chargeable to tax but practically, the bankers are asking for these forms invariably even for students getting remittance from parents for their educational/other expenses.