non filing of form 15CA & 15CB

[satbir singhwahi]

As per circular 4/2009 dt. 29.06.2009, Form 15CA and 15CB , need to filed with Bank By the Assessee

for foreign remittances. The assessee has not generated these forms for financial year 2009-10 and 2010-11, as bank did not ask for it. Now from 2011-12 , forms are regularly generated and taken , to be submitted to bank. What is the remedy for this default . The Export commission is paid to non resident having no office in India .Can these forms  be generated & Taken now to rectify the error.

 

 

[satbir singhwahi]

Sir

No reply received

[DR.MARIAPPAN GOVINDARAJAN]

In my view at present it cannot be rectified.

AI Summary

Non-filing of Form 15CA/15CB for past foreign remittances may be irreversible and lacks a clear rectification remedy. The assessee failed to file Form 15CA and Form 15CB with the bank for certain past export commission remittances because the bank did not request them; forms were produced from a later year, and the recorded advisory view is that the omission for earlier remittances cannot presently be rectified.