TaxTMI 
TaxTMI 
Furnishing of information for payment to a non-resident, not being a company, or to a foreign company
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.... of section 288. (2) The person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum which is not chargeable under the provisions of the Act, shall furnish the information in Part D of Form No.15CA. (3) Notwithstanding anything contained in sub-rule (2), no information is required to be furnished for any sum which is not chargeable under the provisions of the Act, if,- (i) the remittance is made by an individual and it does not require prior approval of Reserve Bank of India as per the provisions of section 5 of the Foreign Exchange Management Act, 1999 (42 of 1999) read with Schedule III to the Foreign Exchange (Current Account Transaction) Rules, 2000; or ^5[(ia) the remittance is made by a Unit of an International Financial Services Centre referred to in sub-section (1A) of section 80LA; or] (ii) the remittance is of the nature specified in column (3) of the specified list below: SPECIFIED LIST Sl. No. Purpose code as per RBI Nature of payment (1) (2) (3) 1 S0001 Indian investment abroad-in equity capital (shares) 2 S0002 Indian investment abroad-in debt securities ....
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....ctor General of Income-tax (Systems)] under sub-rule (8) and thereafter printout of the said form shall be submitted to the authorised dealer, prior to remitting the payment; or (ii) electronically in accordance with the procedures, formats and standards specified by the Principal Director General of Income-tax (Systems) ^7[or the Director General of Income-tax (Systems)] under sub-rule (8) and thereafter signed printout of the said form shall be submitted to the authorised dealer, prior to remitting the payment. (5) An income-tax authority may require the authorised dealer to furnish the signed printout of Form No.15CA referred to in clause (ii) of sub-rule (4) for the purposes of any proceedings under the Act. (6) The certificate in Form No. 15CB shall be furnished and verified electronically in accordance with the procedures, formats and standards specified by the Principal Director-General of Income-tax (Systems) ^8[or the Director General of Income-tax (Systems)] under sub-rule (8). ^9[(7) A quarterly statement, for each quarter of the financial year shall be furnished in respect of all remittances referred to in sub-rules (1), (2) and sub-rule (3) by,- ....
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....to a foreign company. after obtaining a certificate from an accountant as defined in the Explanation to section 288 of the Income-tax Act, 1961. (2) The information to be furnished under sub-section (6) of section 195 shall be in Form No.15CA and shall be verified in the manner indicated therein and the certificate from an accountant referred to in sub-rule (1) shall be obtained in Form No. 15CB. (3) The information in Form No. 15CA shall be furnished electronically to the website designated by the Income-tax Department and thereafter signed printout of the said form shall be submitted prior to remitting the payment. (4) The Director-General of Income-tax (Systems) shall specify the procedures. formats and standards for ensuring secure capture, transmission of data and shall also be responsible for the day-to-day administration in relation to furnishing the information in the manner specified.]" 3. Substituted vide Notification No. 67/2013 dated 2-9-2013 w.e.f. 01-10-2013 before it was read as, "^2[37BB. Furnishing of information by the person responsible for making payment to a non-resident, not being a company, or to a foreign compan....
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....owned subsidiaries 4 S0004 Indian investment abroad -in subsidiaries and associates 5 S0005 Indian investment abroad -in real estate 6 S0011 Loans extended to Non-Residents 7 S0101 Advance payment against imports 8 S0102 Payment towards imports-settlement of invoice 9 S0103 Imports by diplomatic missions 10 S0201 Payments for surplus freight or passenger fare by foreign shipping companies operating in India. 11 S0202 Payment for operating expenses of Indian shipping companies operating abroad. 12 S0203 Freight on imports - Shipping companies 13 S0204 Freight on exports - Shipping companies 14 S0206 Booking of passages abroad - Shipping companies 15 S0208 Operating expenses of Indian Airlines companies operating abroad 16 S0209 Freight on imports - Airlines companies 17 S0212 Booking of passages abroad - Airlines companies 18 S0213 Payments on account of stevedoring, demurrage, port handling charges etc. 19 S0301 Remittance towards business travel. 20 S0302 Travel under basic travel quota (BTQ) 21 S0303 Travel for pilgrimag....
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....ion (2) of section 288; or (b) a certificate from the Assessing Officer under section 197; or (c) an order from the Assessing Officer under sub-section (2) or sub-section (3) of section 195. (2) The information in Form No. 15CA shall be furnished by the person electronically to the website designated by the Income-tax Department and thereafter signed printout of the said form shall be submitted to the authorised dealer, prior to remitting the payment. (3) An income-tax authority may require the authorised dealer to furnish the signed printout referred to in sub-rule (2) for the purposes of any proceedings under the Act. (4) The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture, transmission of data and shall also be responsible for the day-to-day administration in relation to furnishing the information in the manner specified. Explanation 1.- For the purposes of this rule, 'authorised dealer' means a person authorised as an authorised dealer under sub-section (1) of section 10 of the Foreign Exchange Management Act, 1999 (42 of 1999). Explanation 2.-....
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....-2023 w.e.f. 01-01-2024 6. Inserted vide Notification No. 89/2023 dated 16-10-2023 w.e.f. 01-01-2024 7. Inserted vide Notification No. 89/2023 dated 16-10-2023 w.e.f. 01-01-2024 8. Inserted vide Notification No. 89/2023 dated 16-10-2023 w.e.f. 01-01-2024 9. Substituted vide Notification No. 89/2023 dated 16-10-2023 w.e.f. 01-01-2024 before it was read as, "(7) The authorised dealer shall furnish a quarterly statement for each quarter of the financial year in Form No.15CC to the Principal Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) electronically under digital signature within fifteen days from the end of the quarter of the financial year to which such statement relates in accordance with the procedures, formats and standards specified by the Principal Director General of Income-tax (Systems) under sub-rule (8)." 10. Substituted vide Notification No. 89/2023 dated 16-10-2023 w.e.f. 01-01-2024 before it was read as, "(8) The Principal Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing a....
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....ne the nature and amount of income of the recipient of the above remittance as well as documents required for determining my liability under the Income-tax Act as a person responsible for deduction of tax at source. Place: Date: * Delete whichever is not applicable. ' Mandatory if tax is deducted Signature: Designation: Write if company, write 2 if firm, write 3 if individual and write 4 if others. 3 If the remittance is chargeable to tax, non-furnishing of PAN shall attract the provisions of section 206AA 4 If available 5 If available 4 Part B (To be filled up if the remittance is covered by the Specified List given in Explanation to rule 37BB and not chargeable to tax under the provision of Income-tax Act 1961.) REMITTEE REMITTER REMITTANCE 2. Name of the remitter PAN of the remitter TAN of the remitter (if available) Complete address, email and phone number of the remitter Status of remitter' Name of recipient of remittance PAN of the recipient of remittance, if available Complete address, email² and phone number³ of the recipient of remittance Country to which remittance is mad....
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....f domestic, write '1' and if other than domestic, write '2' Status" Name of recipient of remittance PAN of recipient of remittance", Status" Address Country to which remittance is made: Principal place of business Email address (ISD code)-Phone Number (a) Name of the Accountant" signing the certificate (b) Name of the proprietorship/firm of the accountant (c) Address (d) Registration no. of the accountant (e) Date of certificate (DD/MM/YYYY) Certificate No.' (a) A.O. ORDER Whether any order/ certificate u/s 195(2)/ 195(3)/ 197 of Income-tax Act has been obtained from the Assessing Officer. (Tick) ☠Yes ☠No (b) Section under which order/certificate has been obtained (c) Name and designation of the Assessing Officer who issued the order/certificate (d) Date of order/certificate (e) Order/certificate number Section B 1. Country to which remittance is made PARTICULARS OF REMITTANCE AND TDS (as per certificate of the accountant) Country: Currency: 2. Amount payable In foreign currency: In Indian Rs. REMITTANCE 3. Name of the Bank ....
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...., please furnish brief reasons thereof specifying relevant article of DTAA Amount of tax deducted at source 10. 11. Rate of TDS 12. Actual amount of remittance after TDS 13. Date of deduction of tax at source, if any In foreign currency In Indian Rs. As per Income-tax Act (%) As or per DTAA (%) In foreign currency (DD/MM/YYYY) VERIFICATION 1. I/We*, in the capacity of (full name in block letters), son/daughter of (designation) solemnly declare that the information given above is true to the best of my/our* knowledge and belief and no relevant information has been concealed. 2. I/We* certify that a certificate has been obtained from an accountant, particulars of which are given in this Form, certifying the amount, nature and correctness of deduction of tax at source./ I/We* certify that certificate/order under section 195(2)/195(3)/197 of the Income-tax Act, 1961, particulars of which are given in this Form*. 3. In case where it is found that the tax actually deductible on the amount of remittance has not been deducted or after deduction has not been paid or not paid in full, I/We* und....
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.... BSR Code of the bank branch (7 digit) 5. Proposed date of remittance (DD/MM/YYYY) 6 Nature of remittance as per agreement/ document 7. In case the remittance is net of taxes, whether tax payable has been grossed up? (Tick) Yes No 8. Taxability under the provisions of the Income-tax Act (without considering DTAA) (i) is remittance chargeable to tax in India (Tick) Yes No (ii) if not reasons thereof (iii) if yes, (a) the relevant section of the Act under which the remittance is covered (b) the amount of income chargeable to tax (c) the tax liability (d)basis of determining taxable income and tax liability 9. If income is chargeable to tax in India and any relief is claimed under DTAA- (i) whether tax residency certificate is (Tick) obtained from the recipient of remittance (ii) please specify relevant DTAA (ii) please specify relevant article of DTAA (iii) taxable income as per DTAA (iv) tax liability as per DTAA A.If the remittance is for royalties, fee for technical services, interest, dividend, etc, (not connected with permanent establishment) ple....