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Rule 37BB of the Income Tax Act

Rule 37BB of the Income Tax Act

A person making a payment to a a non-resident Indian must furnish Form 15CA online to the I-T Department. In some cases, a certificate from a CA in Form 15CB is required before uploading Form 15CA online. In Form 15CB, a CA certifies details of the payment, TDS rate and TDS deduction as per section 195 of the Income Tax Act, if any DTAA (Double Tax Avoidance Agreement) is applicable, and other details of nature and purpose of the remittance.

Rule 37BB of the Income Tax Act lists out 28 items where both Form 15CA and certificate from CA in Form 15CB are not required.

Rule 37BB
Sl. No.Nature of Payment
1Indian investment abroad -in equity capital (shares)
2Indian investment abroad -in debt securities
3Indian investment abroad -in subsidiaries and associates
4Indian investment abroad -in real estate
5Loans extended to Non-Residents
6Payment- for operating expenses of Indian shipping companies operating abroad.
7Operating expenses of Indian Airlines companies operating abroad
8Booking of passages abroad -Airlines companies
9Remittance towards business travel.
10Travel under basic travel quota (BTQ)
11Travel for pilgrimage
12Travel for medical treatment
13Indian investment abroad -in subsidiaries and associates
14Travel for education (including fees, hostel expenses etc.)
15Postal Services
16Construction of projects abroad by Indian companies including import of goods at project site
17Freight insurance – relating to import and export of goods
18Payments for maintenance of offices abroad
19Maintenance of Indian embassies abroad
20Remittances by foreign embassies in India
21Remittance by non-residents towards family maintenance and-savings
22Remittance towards personal gifts and donations
23Remittance towards donations to religious and charitable institutions abroad
24Remittance towards grants and donations to other Governments and charitable institutions established by the Governments.
25Contributions or donations by the Government to international institutions
26Remittance towards payment or refund of taxes.
27Refunds or rebates or reduction in invoice value on account of exports
28Payments by residents for international bidding.

Rule 37BB of the Income Tax Act

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