| Question And Answer | |
|---|---|
| Subject: | requirement of 15CA for Dividend to NRI Shareholders |
| Category: | Income-Tax |
| Querist: | aanchal |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Dividend, Dividend to NRI shareholders, TDS |
| Date: | September 30, 2022 |
whether 15 CA is required to be filed in case the dividend paid to NRI shareholders in Indian currency and in their Indian Bank account not foreign bank account?
15CA is required only for the payment made to foreign bank account in foreign currency?
Rule 37BB of the Income-tax Rules, 1962 (Rules), requires The person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum chargeable under the provisions of the Act, to fill Form 15CA.
Payment of dividend by a company to an NRI shareholder, falls within the ambit of this Rule. There is no exception for payment in Indian currency or to an Indian bank account. Hope this helps.
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