https://www.taxtmi.com/notifications?id=140917 Amendments to rule 114B carve out companies and firms from the general PAN exception and permit a foreign company that lacks PAN and has no income chargeable to tax in India to submit Form No. 60 for transactions in an IFSC banking unit, with IFSC banking unit defined by reference to the International Financial Services Centres Authority Act. Corresponding exclusions are added to rules 114BA and 114BB so that specified PAN-related provisions do not apply to non-resident individuals (other than companies) and foreign companies transacting with IFSC banking units when they have no income chargeable to tax in India. The substituted Form No. 60 reflects these conditions and documentary requirements. en-us Tue, 10 Oct 2023 00:00:00 +0530 Thu, 12 Oct 2023 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=140917 Amendments to rule 114B carve out companies and firms from the general PAN exception and permit a foreign company that lacks PAN and has no income chargeable to tax in India to submit Form No. 60 for transactions in an IFSC banking unit, with IFSC banking unit defined by reference to the International Financial Services Centres Authority Act. Corresponding exclusions are added to rules 114BA and 114BB so that specified PAN-related provisions do not apply to non-resident individuals (other than companies) and foreign companies transacting with IFSC banking units when they have no income chargeable to tax in India. The substituted Form No. 60 reflects these conditions and documentary requirements. Notifications Income Tax Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/notifications?id=140917