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of <h1>New Rules for Non-Resident Payments: Tax Deduction and Electronic Filing Required u/s 195 from July 1, 2009.</h1> The circular addresses the procedure for remittances to non-residents under Section 195 of the Income-tax Act, 1961. It mandates tax deduction from payments to non-residents and outlines a revised process effective July 1, 2009. The remitter must obtain a certificate from an accountant (Form 15CB) and electronically submit remittance details (Form 15CA) to the Income Tax Department. The signed forms are submitted to the Reserve Bank of India or authorized dealers, who forward them to the Assessing Officer. The procedure aims to ensure tax collection at the remittance stage, with electronic filing introduced to streamline processes.
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