Tax Deduction at Source on remittances requires authorised dealers to apply updated income-tax information rules; FEMA guidance withdrawn. Authorised Dealers must apply the revised income-tax information-furnishing rules for deduction of tax at source on remittances to non-residents effective October 1, 2013, and ensure compliance with tax-law requirements when allowing outward remittances; the Reserve Bank will not issue separate FEMA instructions on these tax-deduction procedures and Authorised Dealers should seek clarification from the tax administration while observing any other statutory permissions required.
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Provisions expressly mentioned in the judgment/order text.
Tax Deduction at Source on remittances requires authorised dealers to apply updated income-tax information rules; FEMA guidance withdrawn.
Authorised Dealers must apply the revised income-tax information-furnishing rules for deduction of tax at source on remittances to non-residents effective October 1, 2013, and ensure compliance with tax-law requirements when allowing outward remittances; the Reserve Bank will not issue separate FEMA instructions on these tax-deduction procedures and Authorised Dealers should seek clarification from the tax administration while observing any other statutory permissions required.
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