No Form 15CA /15CB if Income is Not Chargeable to Tax ! Further Upto 5 Lakhs, Now Part A Only Required

The government has eased rules of TDS under section 195 of the Income Tax Act by amending the Rule 37BB  by notification No. G.S.R. 978(E) dated 16th December, 2015 which provides for procedure of filling Form 15CA or 15CB in case of the remittance to non-residents . In fact , the latest amendment is so good that it will positively effect the business in India ( one sure shot step towards easing of doing business in India) . So , till the other day you were in tension and without any clarity if you should fill out the Form 15CA or 15CB even if the amounts remitted are having no income component. Now, CBDT has amended the Rule 37BB effective from 01/04/2016  to provide following new benefits to remitter , which includes the complete clarity on one aspect - if you are remitting an amount to a non resident which is not chargeable to tax , you need to  fill  a very simple form called Part D