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of <h1>Rule 37BC Eases Tax Deduction Rates for Non-Residents Without PAN, Requires Specific Documentation and Details.</h1> Rule 37BC provides relaxation from the higher tax deduction rate under section 206AA for non-resident individuals or foreign companies without a permanent account number. This relaxation applies to payments such as interest, royalty, fees for technical services, dividends, and capital asset transfers, provided the non-resident furnishes specified details and documents to the deductor. These include personal contact details, foreign residency address, a residency certificate, and a Tax Identification Number or equivalent. Additionally, section 206AA does not apply if section 139A is inapplicable due to rule 114AAB.
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