Withdrawal facility of Form 15cb enabled on e-filing portal

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The inability to withdraw 15 CB forms from the e-filing system may account for a significant portion of the time it takes to update them. This is the statement from ICAI. However, the e-filing system has recently included a withdrawal feature, allowing CAs to withdraw their 15CB forms after providing justification. Let’s understand the latest updates for withdrawal facility of Form 15cb enabled on e-filing portal.

What is Form 15 CB?

When transferring more above INR 5 lakhs from outside of India, you must fill out Form 15CB. CA is responsible for drafting and issuing Form 15CB. All of the information on the nature and purpose of the remittance, as well as the TDS rate and TDS deduction, may be found on Form 15CB.

The CA determines whether or not income tax should be applied to a foreign transfer based on the provisions of the Income Tax legislation and the Double Tax Avoidance Agreement (DTAA), and this is documented in Form 15CB, the Tax Determination Certificate.

There is no deadline for filing Form 15CB, but it must be submitted electronically. To file the form 15CB online, you can visit: Form 15CA and 15CB 

Also read: Difference between 15ca and 15cb

What is the process of Withdrawal of Form 15cb?

Where Form 15CA Part-C has not been filed for the equivalent Form 15CB, CA may remove or withdraw Form 15CB.

  • Filing made after 1st April 2021 till 29th July 2022: Form can be withdrawn at any point of time.
  • Filing made on 30th July 2022 onwards: within 7 days midnight 23:59:59 hours from the date of successful submission of Form 15CB.

When CA clicks the Withdraw button, a pop-up window appears with the following options for the Reasons of Withdrawal.

  • Change in fields of Form 15CB
  • Cancellation of remittance
  • Others

In the event that “Others” is chosen as the category, a text box is presented for the user to provide a description with a maximum length of 200 characters.

When the form is withdrawn, both the taxpayer and the CA get an email and a text message, and the status of Form 15CB is changed to “Withdrawn.”

Important information to remember for Withdrawal facility of Form 15cb

  • Once Form 15CA – Part C is filed, Form 15CB cannot be withdrawn.
  • Form 15CA can be withdrawn within 7 days from submission. Once Form 15CA-Part C is withdrawn, corresponding Form 15CB will also get withdrawn.
  • Form 15CB can be withdrawn only by CA.

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Benefits of Filing Income Tax Return on Time

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