Computation of income tax, Income Tax

[madhavvan]

Issues in remittance made abroad In Sr. No 13 of Form No 15CA in case remittance is made for supply of articles / plant and machinery etc if the receipient has permanent establishment in India through which beneficiary is directly or indirectly carrying on such activity of supply of articles or things. Query : if parent co is in USA / germany and it has world wide subsidiaries including India where the plant is situated does that mean that the parent company has permanent establishment in India Query how does one compute the income comprised in such remittance Verification : this is required to be done by the person authorized to sign return which is managing director, does that mean that all verifications have to be only signed by MD or director not by cfo / accountant What is the procedure after the Form No 15CA is filled up and uploaded to whom should printout be submitted and how the remittance is to be made Please give your views and thoughts

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[Rama Krishana]

You may refer the relevant DTAA for the definition of permanent establishment. Further the form 15CA required signature of person who is competent to sign the income tax return. Section 140 of the income tax specifies the person who can sign the income tax return. Therefore, you need to ascertain that only a competent person shall sign the form 15CA.