1/30/2015

IPCC Question Papers of Accounts, Law, Audit & Tax November 2014

  CA , IPCC   No comments
Contents:

Download IPCC Suggested Answers Nov 2014 (By ICAI)
Download IPCC Question Papers Nov 2014 Exam
Download IPCC Question Papers May 2014 Exam
Download IPCC Question Papers Nov 2013 Exam
Download IPCC Question Papers May 2013 Exam
Download IPCC Question Papers Nov 2012 Exam
Download IPCC Question Papers May 2012 Exam
Download IPCC Question Papers Nov 2011 Exam
Download IPCC Question Papers May 2011 Exam
Download IPCC Question Papers Nov 2010 Exam
Download IPCC Question Papers May 2010 Exam


Download IPCC Suggested Answers Nov 2014 (By ICAI)  



Download IPCC Question Papers Nov 2014 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT


Download IPCC Question Papers May 2014 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Download IPCC Question Papers Nov 2013 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Download IPCC Question Papers May 2013 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Download IPCC Question Papers Nov 2012 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Download IPCC Question Papers May 2012 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT


Download IPCC Question Papers Nov 2011 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT


Download IPCC Question Papers May 2011 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Download IPCC Question Papers Nov 2010 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Download IPCC Question Papers May 2010 Exam 

GROUP I
PAPER – 1: ACCOUNTING
PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
PAPER – 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
PAPER – 4: TAXATION
GROUP II
PAPER – 5: ADVANCED ACCOUNTING
PAPER – 6: AUDITING AND ASSURANCE
PAPER – 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT
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'Commercial Training and Coaching' - Mandatory Training of Insurance Agents

  News , Service Tax   1 comment
'Commercial Training and Coaching' - Mandatory Training of Insurance Agents - not liable to pay Service Tax: CESTAT 

The appellant is providing training to candidates who intend to become Insurance Agent. The candidates are sponsored by the insurance company, who pays the appellant instead of candidates themselves paying the appellants. To become the insurance agent, it is mandatory in the law for him to undergo a training programme which is imparted by the appellant and thereafter to clear an exam conducted by Insurance Regulatory and Development Authority (IRDA). IRDA has been established under Section 3 of the Insurance Regulatory and Development Authority Act, 1999. IRDA has been conferred powers under Section 42 of the Insurance Act, 1938 to prescribe rules for Licensing of Insurance Agents. IRDA is further empowered to prescribe requisite qualification, training and examination by the Insurance Agent under Section 114A of the Insurance Act, 1938. As per IRDA (Licence of Insurance Agent) Regulation, 2000 approves and notifies certain institutions as approved institutions within the meaning of Regulation 2(b) of said Regulation. The appellant is an approved institution as per IRDA Regulation. To obtain a licence, Regulation 3(1) prescribed that the candidate is to apply by making an application, Regulation 3 (ii) prescribed that the candidate should possess the practical training as specified under Regulation 5, a licence can be issued . As per Regulation 5 provides that a training is mandatory which is to obtain by the candidate from approved institutions as prescribed under the said rules. Thereafter under Rule 6, the candidate has to pass an examination conducted by Insurance Institute of India, Mumbai or some other body which issues a certificate to practice as an Insurance Agent.
In these set of facts, the appellant is imparting practical training to the candidates who desirous to become Insurance Agent and issues a certificate for completion of training and on the basis of that certificate the candidate is entitled to appear in the examination conducted as per Regulation 6 of the said Regulation, thereafter who passes the exam becomes the Insurance Agent.
The appellant did not pay service tax on their activity on the premise that they are not liable to service tax on their activity. But investigation conducted by the Revenue, it was revealed that the applicant is a Commercial Training and Coaching Institute as defined under Section 65(27) of the Finance Act, 1994. Therefore, they are liable to pay service tax.
In these set of facts proceedings were initiated against the appellant and for the period 1st July 2003 to 9th September 2004, a Show Cause Notice dated 1.7.2008 was issued to the appellant for demand of service tax along with interest and proposal for various penalties under Section 76, 77 & 78 were also made. Adjudication took place, the proposals made in the Show Cause Notice were confirmed by converting into the demand of service tax along with interest and imposing various penalties on the appellant under the Finance Act.
Aggrieved for the said order, the appellant is before the Tribunal.
Appellant's Plea : The Counsel on behalf of the appellant submits that the appellant although a Commercial, Training and Coaching Institute is not covered for levy of service tax under Section 65(27) of the Finance Act, 1994. To support this contention, he drew attention to Section 65(27) of the Act and says that appellant is imparting training for which a certificate is issued which is recognised by law. Therefore, they are under the exclusion clause of Section 65(27) of the Act. In these set of facts, he prays that impugned order is required to be set aside. He further submits that the appellant is entitled for the benefit of Notification No. 10/2003-ST dated 20th June 2003 which provides an exemption to commercial training or coaching centre which forms an essential part of a course or curriculum of any other institute or establishment, leading to the issuance of any certificate or educational qualification. He further submits that in alternate the appellant is entitled for the benefit of Notification No. 9/2003-ST dated 20th June 2003 which provides exemption to vocational training institute. To support this contention he relied on the decision in the case of Pasha Educational Training Institute Vs. CCE, Hyderabad - 2009-TIOL-288-CESTAT-BANG to say that in the case of the competitor of the appellant in similar set of facts, this Tribunal held that the training to the candidate is a vocational training. Therefore, the institute is Vocational Training Institute and eligible for exemption under Notification No. 9/2003 ibid.
He further submits that a similar issue came up before the Hon'ble High Court of Delhi in the case of Indian Institute of Aircraft Engineering Vs. Union of India - 2013-TIOL-430-HC-DEL-ST, wherein the Hon'ble High Court has held that such type of training which is governed by a law is not covered under the definition of Section 65(27) of the Finance Act, 1994.
Revenue Defence : On the other hand, the AR for Revenue opposes the contention of the Counsel and submits that the activity undertaken by the appellant is squarely covered by Section 65(27) of the Finance Act, 1944 and does not exclude the appellant from levy of service tax. He submits that the appellant is not issuing any certificate of training recognised by law, therefore they are not covered under the exclusion clause of Section 65(27) of the Finance Act. He submits that a similar issue was referred to the Larger Bench of this Tribunal in the case of Great Lakes Institute of Management Ltd. Vs. CST, Chennai -2013-TIOL-1480-CESTAT-DEL-LBwherein this Tribunal held that such type of institute which are not issuing training certificate recognised by law are Commercial Coaching and Training Institute, therefore, the appellant is liable to pay service tax. He further submits that the appellants are issuing only a certificate of completion of training and not conducting any exam and issuance of certificate of Training is not recognised by law. In these circumstances, he cannot take the shelter of the decision of Hon'ble High Court of Delhi in the case of Indian Institute of Aircraft Engineering. He further submits that the exam conducted by Insurance Institute of India, Mumbai has no concern with the training imparted by the appellant as that has not prescribed any syllabus for conducting the training. To support this contention, he relied on the decision of the Hon'ble Kerala High Court in the case of St. Antony's Educational & Charitable Society Vs. Union of India - 2006-TIOL-22-HC-KERALA-ST.
The Tribunal found that that a similar issue came before the Hon'ble High Court of Delhi in the case of Indian Institute of Aircraft Engineering. The High Court has examined the issue and observed as under:
"20. The position which thus emerges is that :-
(A) That successful completion of Aircraft Maintenance Engineers course from an approved training school by itself does not authorize such candidate to certify the airworthiness of an aircraft or its repair or maintenance. For the same, an examination to be conducted by the DGCA is to be passed.
(B) For appearance in the said examination, it is not essential to undergo the course offered by the approved training school and others are also eligible to take the said examination.
21. Nonetheless, the law dealing with the subject of aircrafts has not left the institutes imparting such courses/training and which course completion/training makes the successful candidates eligible to one year exemption, unregulated. It is not as if anyone can start, offering such course and imparting training. The Act, Rules and CAR provide for approval of institutes such as the petitioner's. DGCA regulates the course content offered by such institute and gives relaxation to the successful candidates from such institutes in the matter of taking the examination to be conducted by the DGCA for grant of authority/license to render services of aircraft repair and maintenance and to certify the aircraft's airworthiness. Though qua the fee etc. to be charged by such institutes there does not seem to be any restriction but the powers under the Act and the Rules in exercise of which such CAR has been issued are wide enough to also issue a direction with respect to the fee etc. to be charged by such institute.
22. The question which falls for consideration is whether the aforesaid would amount to 'recognition by law' of the Course Completion Certificate and On Job Training Certificate given by such institute.
23. The expression 'recognized by law' is a very wide one. The legislature has not used the expression "conferred by law" or "conferred by statute". Thus even if the certificate/degree/diploma/qualification is not the product of a statute but has approval of some kind in 'law', would be exempt.
24. "Recognize' is defined, in the Black's Law Dictionary, 8th Edition as confirmation of an act done by another person as authorized, formally acknowledging the existence; and, in Concise Oxford Dictionary as acknowledging the existence, validity or legality of.
26. There can be no doubt that such recognition through the Rules framed as aforesaid and through issuance of CAR, is a recognition by law, which is defined in Black's Law Dictionary, 8th Edition as the aggregate of legislation, judicial precedents and accepted legal principles and the set of rules or principles dealing with a specific area of legal systems. The Rules and the CAR aforesaid dealing with aircrafts, there can be no doubt, are law. The Supreme Court in Narsingh Pratap Singh Deo v. State of Orissa - AIR 1964 SC 1793 held that a law generally is a body of rules which have been laid down for determining legal rights and legal obligations which are recognized by Courts. Similarly, in R.S. Nayak v. A.R. Antulay - (1984) 2 SCC 183 it was held that law includes any Ordinance, By-law, Rule, Regulation, Notification, Custom or Usage having force of law. The Rules and CAR aforesaid have been enacted in exercise of legislative power as aforesaid.
27. The reasoning in the impugned Instruction dated 11th May, 2011 that because the qualification awarded by the Institute does not culminate in automatic issuance of license/ by the DGCA to certify the repair, maintenance or airworthiness of an aircraft and for authorization which purpose a further examination to be conducted by the DGCA is to be taken, in our view mixes up and confuses, 'qualification' with 'a license to practice on the basis of that qualification'. An educational qualification recognized by law will not cease to be recognized by law merely because for practicing in the field to which the qualification relates, a further examination held by a body regulating that field of practice is to be taken. Immediate instance can be given of the qualification in the field of law. Though by amendment of the recent years, the right to practice law on the basis of the said qualification has been made subject to clearing/passing a Bar Exam to be held by the Bar Council of India, the same does not make the qualification of law not recognized by law. The recognition accorded by the Act, Rules and CAR supra to the Course Completion Certificate issued by the Institutes as the petitioner cannot be withered away or ignored merely because the same does not automatically allow the holder of such qualification to certify the repair, maintenance or airworthiness of an aircraft and for which authorization a further examination to be conducted by the DGCA has to be passed/cleared.
Thereafter, Hon'ble High Court concluded that the training conducted by the appellant in that case having a recognition of law and is not covered under commercial or coaching training centre as defined under Section 65(27) of the Finance Act, 1994.
The Tribunal has further gone through the decision of Pasha Educational Training Inst.wherein similar set of facts, in the case of the competitor of the appellant this Tribunal held that the appellant was imparting the vocational training and held that the appellant was entitled for benefit of exemption under Notification No. 9/2003-ST dated 20th June 2003. The reliance by the AR in the case of St. Antony's Educational & Charitable Society is also of no help as in the case in hand, it is already observed that the training imparted by the appellant is having recognition of law.
So, the Tribunal concluded that the facts of this case are similar to the facts of the case ofPasha Educational Training Inst. and Indian Institute of Aircraft Engineering (supra) wherein it was held that the training imparted by the appellants were not covered under the definition of Section 65(27) of the Finance Act, 1994.
Held: in this case also the training imparted by the appellants does not fall under the ambit of Section 65(27) of the Finance Act, 1994 as the training imparted by the appellant is having the recognition of law and covered under exclusion clause of Section 65(27) of the Finance Act, 1994, therefore the appellant is not liable to pay service tax at all.
The impugned order is set aside and the appeal allowed with consequential relief if any
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Acceptance of the Order of the Hon'ble High Court of Bombay in the case of Vodafone India

  Circulars , News   No comments

Acceptance of the Order of the Hon'ble High Court of Bombay in the case of Vodafone India Services Pvt. Ltd.-reg. - Order-Instruction - Dated 29-1-2015 - Income Tax
 
Instruction No. 2 / 2015
F. No. 500/15/2014 - APA-I
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Foreign Tax & Tax Research-I Division
APA-I Section
New Delhi, dated the 29th January, 2015
To
All Principal CCsIT/DsGIT and CCsIT/DsGIT
Madam/Sir
Subject: Acceptance of the Order of the Hon'ble High Court of Bombay in the case of Vodafone India Services Pvt. Ltd.-reg.
     In reference to the above cited subject, I am directed to draw your attention to the decision of the High Court of Bombay in the case of Vodafone India Services Pvt. Ltd. for AY 2009-10 (WP No. 871/2014), wherein the Court has held, inter-alia, that the premium on share issue was on account of a capital account transaction and does not give rise to income and, hence, not liable to transfer pricing adjustment.
2.  It is hereby informed that the Board has accepted the decision of the High Court of Bombay in the above mentioned Writ Petition. In view of the acceptance of the above judgment, it is directed that the ratio decidendi of the judgment must be adhered to by the field officers in all cases where this issue is involved. This may also be brought to the notice of the ITAT, DRPs and CsIT (Appeals).
3.  This issues with the approval of Chairperson, CBDT.
Yours faithfully,
(Anchal Khandelwal)
Under Secretary to the Govt. of India
Copy to:
1. Chairperson and Members of CBDT
2. All Officers of CBDT
3. ITCC Division of CBDT (3 copies)
4. Office of Pr. DGIT (Systems) for uploading on Departmental website
5. Database Cell for uploading on IRS Officers website
6. Guard File
(Anchal Khandelwal)
Under Secretary to the Govt. of India
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Faq's of Form 15CA & 15CB

  Forms   2 comments
1. Why Form 15CA?
Form 15CA is a Declaration of Remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non-resident. This is starting of an effective Information Processing System which may be utilized by the Income tax Department to independently track the foreign remittances and their nature to determine tax liability. Authorised Dealers/ Banks are now becoming more vigilant in ensuring that such Forms are received by them before remittance is effected since now as per revised Rule 37BB a duty is casted on them to furnish Form 15CA received from remitter, to an income-tax authority for the purposes of any proceedings under the Income-tax Act.

2. Whether Form 15CA has to be submitted in all cases since the Bankers demand it invariably?
In this regards the attention is invited to the Headings of the Form which provides as under:
“Information to be furnished for payments, chargeable to tax, to a non-resident not being a company, or to a foreign company”
“(To be filled up if the remittance is chargeable to tax and does not exceed fifty thousand rupees and the aggregate of such remittances made during the financial year does not exceed two lakh fifty thousand rupees)”
(Underlined for emphasis)
As can be seen from above the Form clearly states that it needs to be filled only if the remittance is chargeable to tax in India. Therefore on the first blush it appears crystal clear that Form 15CA is not required to be filled if the remittance/ payment to non-resident are not chargeable to tax. However the confusion has been created to Banks since a list As per Income Tax (Fourteenth Amendment) Rules, 2013, No reporting in Form 15CA and 15CB is to be made in case of the following nature of foreign remittances w.e.f 01.10.2013 has been provided in Rule 37BB.

SPECIFIED LIST  
Sl. No. Purpose code as per RBI Nature of Payment (3)
1 S0001 Indian investment abroad -in equity capital (shares)
2 S0002 Indian investment abroad -in debt securities
3 S0003 Indian investment abroad -in branches and wholly owned subsidiaries
4 S0004 Indian investment abroad -in subsidiaries and associates
5 S0005 Indian investment abroad -in real estate
6 S0011 Loans extended to Non-Residents
7 S0202 Payment- for operating expenses of Indian shipping companies operating abroad.
8 S0208 Operating expenses of Indian Airlines companies operating abroad
9 S0212 Booking of passages abroad -Airlines companies
10 S0301 Remittance towards business travel.
11 S0302 Travel under basic travel quota (BTQ)
12 S0303 Travel for pilgrimage
13 S0304 Travel for medical treatment
14 S0305 Travel for education (including fees, hostel expenses etc.)
15 S0401 Postal services
16 S0501 Construction of projects abroad by Indian companies including import of goods at project site
17 S0602 Freight insurance – relating to import and export of goods
18 S1011 Payments for maintenance of offices abroad
19 S1201 Maintenance of Indian embassies abroad
20 S1 202 Remittances by foreign embassies in India
21 S1301 Remittance by non-residents towards family maintenance and-savings
22 S1302 Remittance towards personal gifts and donations
23 S1303 Remittance towards donations to religious and charitable institutions abroad
24 S1304 Remittance towards grants and donations to other Governmentsand charitable institutions established by the Governments.
25 S1305 Contributions or donations by the Government to international institutions
26 S1306 Remittance towards payment or refund of taxes.
27 S1501 Refunds or rebates or reduction in invoice value on account of exports
28 S1503 Payments by residents for international bidding”.
Therefore no Form 15CA and 15CB are required in the abovementioned 28 nature of foreign remittances.
3. What stand customer can take if Bank demand Form 15CA but service is not taxable?
In such cases, the possible recourse is to submit a declaration in form of a note to Bank stating the nature of remittance and reason as to why it is not chargeable to tax and consequently exempted from the submission of Form 15CA.
4. Why Form 15CB?
The answer is Form 15CB. Chargeability can be ascertained and certified by obtaining the Certificate from a Chartered Accountant in Form no. 15CB. This certificate has been prescribed under Section 195(6) of the Income tax Act and is an alternate channel of obtaining Tax clearance apart from Certificate from Assessing Officer.
Perusal of Form 15CB makes it clear that there is no condition or exemption to obtain such certificate when the remittance is not chargeable to tax. In fact this Form 15CB is the Tax Determination Certificate where the Issuer CA examines the remittance having regard to chargeability provisions under Section 5 and 9 of Income tax Act along with provisions of Double tax Avoidance Agreements with the Recipient’s Residence Country. Therefore in my opinion, it is advisable to obtain 15CB even in cases where 15CA is not mandated. Though there is no penal provision prescribed in the Act if such Certificates in Form 15CB and Declaration in Form 15CA are not obtained, but it is in the interest of Assessee to have a tax determination in Form 15CB from a CA, since Non-resident taxation involves various complex issues and the consequences of Non deduction are severe.
5. Once it is ascertained that Form 15CA and 15CB have to be made then one should ascertain the part of Form 15CA to be filled by the assessee, by reading the following extracts of Amended Rule 37BB;  
Rule 37BB. (1) Any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest or salary or any other sum chargeable to tax under the provisions of the Act, shall furnish the following, namely:
(i) the information in Part A of Form No.15CA, if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees;            
(ii) the information in Part B of Form No.15CA for payments other than the payments referred in clause (i)

6. Information to be required from the client :
A. Details of Remitter
1. Name of the Remitter
2. Address of the Remitter
3. PAN of the  Remitter
4. Principal Place of Business of the Remitter
5. E-Mail Address and Phone No. Of Remitter
6. Status of the Remitter (Firm/Company/Other)
B.  Details of Remittee
1. Name and Status of the Remittee
2. Address of the Remittee
3. Country of the Remittee (Country to Which Remittance Is Made)
4. Principal Place of the Business of the Remittee
C.  Details of the Remittance
1. Country to Which Remittance Is Made
2. Currency in Which Remittance Is Made
3. Amount of Remittance in Indian Currency
4. Proposed Date of Remittance
5. Nature of Remittance as Per Agreement (Invoice Copy to Be Asked From Client)
D Bank Details of the Remitter    
1. Name of Bank of the Remitter
2. Name of Branch of the Bank
3.  BSR Code of the Bank
E.  Others
1. Father’s Name of the Signing Person
2. Designation Of The Signing Person
F      a. Form 10f Duly Filled By the Authorised Person Of The Remittee.
b. Tax Residency Certificate From The Remittee (Tax Registration Of The Country In Which Remittee Is Registered)
c. Certificate That The Remittee Does Not Have Any Permanent Establishment In India. This Is Mandatory If The Income Is A Business Income And Not Chargeable To Tax As Per DTAA If There Is No P.E In India.
This Is Required If Any Benefit Under DTAA Is Taken, Whether By Way Of Lower Rate Of Deduction Of Tax At Source Or No Deduction Of Tax At Source As Per DTAA.
This Is Required If Any Benefit Under DTAA Is Taken, Whether By Way Of Lower Rate Of Deduction Of Tax At Source Or No Deduction Of Tax At Source As Per DTAA.

 7. What are the impacts of new Rule (applicable from 1st October, 2013)?
a.     Department added 28 types of payments for which no information is required to be furnished at all.
b.    Form 15CB is not required where Part A of Form 15CA is to be filled in, i.e., in case of small payments.
c.     In case of other payments, it appears that either an order or a certificate of the Assessing Officer u/s. 197/195(2)/195(3) must be obtained, or a certificate of the Chartered Accountant should be obtained.
d.    Sub-rule (2) of the revised Rule 37BB mandates that Form 15CA shall be furnished to the authorised dealer prior to remitting the payment.
e.     The revised Rule 37BB casts a duty on the authorised dealer to furnish Form 15CA submitted by the remitter to an income-tax authority for the purposes of any proceedings under the Income-tax Act.
f.     The revised Forms state that in the absence of the PAN of the recipient, provisions of section 206AA shall apply.
g.    The revised Form 15CB requires detailed enumeration of the taxability of the amount under the Income-tax Act, without giving any effect to the DTAA. Where DTAA provisions are sought to be applied, the details of the Tax Residency Certificate, applicable DTAA and its relevant article, as also tax liability under the DTAA are to be furnished.  The nature of remittance is divided as — for royalties, FTS, interest, dividend; on account of business income; on account of short-term and long-term capital gains; and any other remittance.
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