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Information furnishing requirements for payments under section 195 established; specifies form and manner for reporting withholding-related payments. An amendment inserts a clause in section 295(2) empowering specification of the form and manner for furnishing information relating to payment under subsection (6) of section 195, thereby authorising rules to prescribe formats and procedures for reporting payments subject to withholding obligations.
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<h1>Information furnishing requirements for payments under section 195 established; specifies form and manner for reporting withholding-related payments.</h1> An amendment inserts a clause in section 295(2) empowering specification of the form and manner for furnishing information relating to payment under subsection (6) of section 195, thereby authorising rules to prescribe formats and procedures for reporting payments subject to withholding obligations.