With the startup community growing stronger than ever, there has been a rise in the number of angel investors, venture capital investors, and private equity firms who are willing to invest in such startups. Among the various factors evaluated in the due diligence report, adherence to legal compliance is one of the essential points to be taken care of. Continue reading “Due Diligence for Startups”
Form 15CA and Form 15CB – Compliance for Foreign Remittances
The Income Tax Law of our country requires authentication of foreign remittances (payments) made to a Non Resident or Foreign Company, for any amount which is taxable as per the existing laws. A person making a remittance (a payment) to a Non Resident or a Foreign Company has to submit Form 15CA. This form is submitted online.
In some cases, a certificate from a Chartered Accountant in Form 15CB is required before uploading Form 15CA online. Form 15CB is the Tax Determination Certificate where a Chartered Accountant determines the taxability of the remittance as per Income tax Act along with the provisions of Double Tax Avoidance Agreement with the Recipient’s Residence Country. Continue reading “Form 15CA and Form 15CB – Compliance for Foreign Remittances”