https://www.taxtmi.com/article/detailed?id=11981 Companies and firms are no longer permitted to furnish Form 60 in lieu of quoting PAN under Rule 114B. A narrow relaxation allows a foreign company without income chargeable in India and without PAN to furnish Form 60 only for certain transactions with an IFSC banking unit. Separately, Rules 114BA and 114BB continue to require application for PAN and quoting of PAN/Aadhaar for specified transactions, but exempt non resident or foreign companies transacting with IFSC banking units by non cash deposits/withdrawals or opening non cash credit current accounts, subject to the no India taxable income condition. en-us Mon, 23 Oct 2023 10:03:35 +0530 Mon, 23 Oct 2023 10:03:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11981 Companies and firms are no longer permitted to furnish Form 60 in lieu of quoting PAN under Rule 114B. A narrow relaxation allows a foreign company without income chargeable in India and without PAN to furnish Form 60 only for certain transactions with an IFSC banking unit. Separately, Rules 114BA and 114BB continue to require application for PAN and quoting of PAN/Aadhaar for specified transactions, but exempt non resident or foreign companies transacting with IFSC banking units by non cash deposits/withdrawals or opening non cash credit current accounts, subject to the no India taxable income condition. Articles Income Tax Mon, 23 Oct 2023 10:03:35 +0530 https://www.taxtmi.com/article/detailed?id=11981