A rotatable tool for chip removing machining includes two parts, viz. a holder part, rotatable around a geometrical center axis, and a replaceable cutting part, which is rigidly connectable to a front end of the holder part via a male / female coupling. The coupling includes a tapering seat in the holder part and a tapering male member, protruding rearwardly from the cutting part. In the seat, there is a slot, which separates two elastically deflectable projections, that may be inwardly deflected towards each other during clamping of the male member in the seat. The male member is elongated in a radial direction, and the seat is in the form of a radial groove into and out of which the sheath body is transversely movable. The male member includes a dove-tail shaped portion received in a dove-tail shaper portion of the groove. A centering button on the male member enters a depression in the holder part to axially center the cutting part.