Sunday, November 27, 2022

Income Tax Department: Date extended for disclosure of money received from abroad, forms will be able to be filled by July 15

The Income Tax Department on Monday extended till July 15 the deadline for furnishing the details to be manually filled in case of remittances from abroad. After the launch of the new portal of the Income Tax Department on June 7, many users had complained about the technical issue in it. 

After this, the department had allowed the filling of Form 15CA, 15CB to be filled in respect of foreign receipts in banks till June 30. The Central Board of Direct Taxes (CBDT) said in a statement that it has now been decided that the above date has been further extended to 15 July 2021.

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The CBDT said that in view of this, taxpayers can now fill up the above form manually and submit it to the authorized dealer by July 15, 2021. Under the Income Tax Act 1961, 15CA, 15CB have to be filled electronically. 

Presently, taxpayers upload Form 15CA along with Chartered Accountant’s certificate in Form 15CB, wherever required, on the e-filing portal before handing over the copy to the authorized dealer. The CBDT has also advised the authorized dealers to accept the manual form by July 15 in case of foreign receipts.

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