TaxTMI 
TaxTMI 
Furnishing of Information in Respect of Payments made to the Non-Resident
X X X X Extracts X X X X
X X X X Extracts X X X X
....urnishing of Information in Respect of Payments made to the Non-Resident <br>News and Press Release<br>Dated:- 17-12-2015<br><BR>Section 195 of the Income-tax Act empowers the Central Board of Direct ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended to strike a balance between reducing th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e burden of compliance and collection of information under Section 195 of the Act. The significant changes under the amended Rules are: * No Form 15CA and 15CB will be required to be furnished by ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....an individual for remittance which do not requiring RBI approval under its Liberalised Remmittace Scheme (LRS) * Further the list of payments of specified nature mentioned in Rule 37 BB which do not....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... require submission of Forms 15CA and 15CB has been expanded from 28 to 33 including payments for imports. * A CA certificate in Form No. 15CB will be required to be furnished only in respect of suc....
X X X X Extracts X X X X
X X X X Extracts X X X X
....h payments made to non-residents which are chargeable to tax and the amount of payment during the year exceeds ₹ 5 lakh. The amended Rules will become applicable from 01.04.2016. Notification....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... No. G.S.R. 978(E) dated 16th December, 2015 is available on the website of the Department at www.incometax.gov.in.<BR> News - Press release - PIB....