Income tax submitting for international remittances relaxed amid new portal woes

Income tax that decision for obligatory on-line submitting of returns for international remittances has been relaxed. Taxpayers can now file Form 15 CA and Form 15 CB manually until June 30, Ministry of Finance stated. The choice was taken in view of rampant glitches on the brand new revenue tax submitting on-line portal.

“As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance,” the ministry stated on Monday.

“In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal, www.incometax.gov.in, it has been decided that taxpayers can submit the aforesaid Forms in manual format to the authorised dealers till June 30, 2021. Authorised dealers are advised to accept such Forms till June 30th, 2021 for the purpose of foreign remittances,” the Finance Ministry additional added.

A facility can be offered on the brand new e-filing portal to add these types at a later date as a way to generate the Document Identification Number.

Any fee made by a resident Indian to a non-resident must be declared in Form 15CA, whereby the resident states that tax on such a transaction has been deducted.

Form 15 CB is a certificates issued by a chartered accountant establishing that the provisions of the Double Taxation Avoidance Agreement (DTAA) and the Income-tax Act have been adopted in tax deductions relating to the international remittances declared in Form 15 CA.

The new e-filing portal stays, launched on June 7 to ease the tax submitting course of and situation of refunds, stays mired in glitches. Even per week after launch, taxpayers are going through difficulties in logging in to the portal. Even in the event that they do handle to get in, finishing up actions like submitting tax return types or responding to tax notices are proving to be troublesome.

Subscribe to Mint Newsletters * Enter a legitimate e mail * Thank you for subscribing to our publication.

Never miss a narrative! Stay related and knowledgeable with Mint.
Download
our App Now!!

Topics