Foreign remittance reporting rules require prescribed information, electronic filing, and quarterly statements for non-resident payments. Furnishing of information is required for payments to a non-resident, not being a company, or to a foreign company, with the applicable part of Form No. 145 depending on whether the sum is chargeable under the Act, the amount of payment, and the certificate or order obtained. Non-chargeable remittances are reported in Part D, subject to specified exclusions where no information is required, including certain individual remittances, remittances by a Unit of an International Financial Services Centre, and remittances falling within the specified purpose codes. Form No. 145 must be filed electronically before remittance, and quarterly statements must be furnished by the authorised dealer or the Unit within fifteen days from the end of the quarter.
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Provisions expressly mentioned in the judgment/order text.
Foreign remittance reporting rules require prescribed information, electronic filing, and quarterly statements for non-resident payments.
Furnishing of information is required for payments to a non-resident, not being a company, or to a foreign company, with the applicable part of Form No. 145 depending on whether the sum is chargeable under the Act, the amount of payment, and the certificate or order obtained. Non-chargeable remittances are reported in Part D, subject to specified exclusions where no information is required, including certain individual remittances, remittances by a Unit of an International Financial Services Centre, and remittances falling within the specified purpose codes. Form No. 145 must be filed electronically before remittance, and quarterly statements must be furnished by the authorised dealer or the Unit within fifteen days from the end of the quarter.
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