Users of the new income tax portal had some issues. The Central Board of Direct Taxes (CBDT), however, has allowed foreign exchange dealers to accept manual forms 15CA/CB up to July 15. It was previously allowed until June 30, 2021.You must electronically upload the Form 15CA and the chartered accountant certificate in the Form 15CB to the e-filing portal when you make payments exceeding Rs 5 lakh to entities or individuals abroad. The copy must be submitted to authorized dealers or banks before you can initiate foreign remittances.This applies mainly to business payments. Karan Batra, Founder of the Chartered Club, explains that banks may ask for documents when you make a money transfer.This is done to inform the income tax department. Banks will need to complete the process in order to authorize the payments.These could include payments for NRI purchases such as vehicle purchases, artwork purchases, and so forth. Similar to the above, payment for services rendered by NRIs - such as web development, consulting for medical, or any other reason - would also be included, according Raju Shah (Partner, R C S P H & Associates in Ahmedabad).Uploading forms is currently difficult due to I-T portal glitches. Digital signature uploads are allowed for authentication. Manual submissions will be permitted until July 15, 2021. The CBDT release stated that the new portal will allow users to upload the forms later for the purpose of generating the document identification number.
