penalty for non furnishing of FORM 15CA

[SANJAY RAWAL]

SOME PAYMENT FOR IMPORT OF GOODS IS MADE WITHOUT FURNISHING FORM 15CA TO INCOME TAX DEPTT.ALTHOUGHT NO TDS WAS TO BE DEDUCTED, STILL IF THERE IS ANY PENALTY FOR NON FURNISHING OF FORM 15CA

[CAGOPALJI AGRAWAL]

There is no penalty for such violation, if somebody makes different view, please discuss,

AI Summary

Penalty for non furnishing of Form 15CA not applicable where no withholding obligation exists, per advisory view. Inquiry: payments for import of goods were made without furnishing Form 15CA where no tax deduction was required. Advisory reply: non furnishing of the form in that factual context does not attract a penalty; the view is presented in a discussion forum and open to further discussion.