Rule 37BB - Furnishing of information for payment to a non-resident, not being a company, or to a foreign company - Income-tax Rules, 1962

4 [ 37BB. Furnishing of information for payment to a non-resident, not being a company, or to a foreign company .- (1) The person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum chargeable under the provisions of the Act, shall furnish the following, namely:- (i) the information in Part A of Form No.15CA , if the amount of payment or the aggregate of such payments, as the case may be, made during the financial year does not exceed five lakh rupees; (ii) for payments other than the payments referred in clause (i), the information,- (a) in Part B of Form No.15CA after obtaining,- (I) a certificate from the Assessing Officer under section 197 ; or (II) an order from the Assessing Officer under sub-section (2) or sub-section (3) of section 195 ; (b) in Part C of Form No.15CA after obtaining a certificate in Form No. 15CB from an accountant as defined in the Explanation below sub-section (2) 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 3 S0003 Indian investment abroad-in branches and wholly 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 S0104 Intermediary trade 11 S0190 Imports below ₹ 5,00,000-(For use by ECD offices) 12 S0202 Payment for operating expenses of Indian shipping companies operating abroad. 13 S0208 Operating expenses of Indian Airlines companies operating abroad 14 S0212 Booking of passages abroad - Airlines companies 15 S0301 Remittance towards business travel. 16 S0302 Travel under basic travel quota (BTQ) 17 S0303 Travel for pilgrimage 18 S0304 Travel for medical treatment 19 S0305 Travel for education (including fees, hostel expenses etc.) 20 S0401 Postal services 21 S0501 Construction of projects abroad by Indian companies including import of goods at project site 22 S0602 Freight insurance - relating to import and export of goods 23 S1011 Payments for maintenance of offices abroad 24 S1201 Maintenance of Indian embassies abroad 25 S1202 Remittances by foreign embassies in India 26 S1301 Remittance by non-residents towards family maintenance and savings 27 S1302 Remittance towards personal gifts and donations 28 S1303 Remittance towards donations to religious and charitable institutions abroad 29 S1304 Remittance towards grants and donations to other Governments and charitable institutions established by the Governments 30 S1305 Contributions or donations by the Government to international institutions 31 S1306 Remittance towards payment or refund of taxes 32 S1501 Refunds or rebates or reduction in invoice value on account of exports 33 S1503 Payments by residents for international bidding. (4) The information in Form No. 15CA shall be furnished,- (i) electronically under digital signature in accordance with the procedures, formats and standards specified by the Principal Director General of Income-tax (Systems) 6 [ or the Director 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, (i) the authorised dealer in Form No. 15CC; (ii) a Unit of an International Financial Services Centre referred to in sub-section (1A) of section 80LA, responsible for paying to a non-resident, not being a company, or to a foreign company, in Form No. 15CD, to the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) or the 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) or the Director General of Income-tax (Systems) under sub-rule (8). ] 10 [ (8) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of Form No. 15CA, Form No. 15CB, Form No. 15CC and Form No. 15CD and shall be responsible for the day-to-day administration in relation to the furnishing and verification of information, certificate and quarterly statement in accordance with the provisions of sub-rules (4), (6) and sub-rule (7). ] 11 [ Explanation . For the purposes of this rule, (i) 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); (ii) International Financial Services Centre shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005); (iii) Unit shall have the same meaning as assigned to it in clause (zc) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005). ] ] ************* Notes: 1. Inserted vide Notification No. 30/2009 dated 25/3/2009 2. Substituted vide NOTIFICATION NO. 58/2013 DATED 5-8-2013 , earlier it was read as 1 [Furnishing of information under sub-section (6) of section 195. 37BB. (1) The information under sub-section (6) of section 195 shall be furnished by the person responsible for making the payment to a non-resident, not being a company, or 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. 1st day of October, 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 company -(1) The person responsible for making any payment to a non-resident, not being a company, or to a foreign company shall furnish the following, namely:- (i) the information in Part A of Form No.15CA , if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees; (ii) the information in Part B of Form No.15CA , if the payment is not chargeable to tax and is of the nature specified in column (3) of the specified list ; (iii) the information in Part C of Form No.15CA for payments other than the payments referred in clause (i) and clause (ii) after obtaining- (a) a certificate in Form No. 15CB from an accountant as defined in the Explanation below sub-section (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. - For the purposes of this rule,- (a) '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); (b) the specified list refers to the payments of the nature as indicated 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 3 S0003 Indian investment abroad -in branches and wholly 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 pilgrimage 22 S0304 Travel for medical treatment 23 S0305 Travel for education (including fees, hostel expenses etc.) 24 S0401 Postal services 25 S0501 Construction of projects abroad by Indian companies including import of goods at project site 26 S0601 Payments for life insurance premium 27 S0602 Freight insurance - relating to import and export of goods 28 S0603 Other general insurance premium 29 S1011 Payments for maintenance of offices abroad 30 S1201 Maintenance of Indian embassies abroad 31 S1202 Remittances by foreign embassies in India 32 S1301 Remittance by non-residents towards family maintenance and savings 33 S1302 Remittance towards personal gifts and donations 34 S1303 Remittance towards donations to religious and charitable institutions abroad 35 S1304 Remittance towards grants and donations to other governments and charitable institutions established by the governments. 36 S1305 Contributions or donations by the Government to international institutions 37 S1306 Remittance towards payment or refund of taxes. 38 S1501 Refunds or rebates or reduction in invoice value on account of exports 39 S1503 Payments by residents for international bidding .] 4. Substituted vide Not. 93/2015 - Dated 16-12-2015 , 1st day of April, 2016, before it was read as, 3 [ Furnishing of information by the person responsible for making any payment including any interest or salary or any other sum chargeable to tax, to a non-resident, not being a company, or to a foreign company 37BB. (1) Any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest or salary or any other sum chargeable to tax under the provisions of the Act, shall furnish the following, namely:- (i) the information in Part A of Form No.15CA, if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees; (ii) the information in Part B of Form No.15CA for payments other than the payments referred in clause (i) after obtaining- (a) a certificate in Form No.15CB from an accountant as defined in the Explanation below sub-section (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.- For the removal of doubts, it is hereby clarified that for payments of the nature specified in column (3) of the specified list below, no information is required to be furnished under sub-rule (1). SPECIFIED LIST Sl. No. (1) Purpose code as per RBI (2) Nature of payment (3) 1 S0001 Indian investment abroad -in equity capital (shares) 2 S0002 Indian investment abroad -in debt securities 3 S0003 Indian investment abroad -in branches and wholly 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 S0202 Payment for operating expenses of Indian shipping companies operating abroad. 8 S0208 Operating expenses of Indian Airlines companies operating abroad 9 S0212 Booking of passages abroad - Airlines companies 10 S0301 Remittance towards business travel. 11 S0302 Travel under basic travel quota (BTQ) 12 S0303 Travel for pilgrimage 13 S0304 Travel for medical treatment 14 S0305 Travel for education (including fees, hostel expenses etc.) 15 S0401 Postal services 16 S0501 Construction of projects abroad by Indian companies including import of goods at project site 17 S0602 Freight insurance - relating to import and export of goods 18 S1011 Payments for maintenance of offices abroad 19 S1201 Maintenance of Indian embassies abroad 20 S1202 Remittances by foreign embassies in India 21 S1301 Remittance by non-residents towards family maintenance and savings 22 S1302 Remittance towards personal gifts and donations 23 S1303 Remittance towards donations to religious and charitable institutions abroad 24 S1304 Remittance towards grants and donations to other governments and charitable institutions established by the governments. 25 S1305 Contributions or donations by the Government to international institutions 26 S1306 Remittance towards payment or refund of taxes. 27 S1501 Refunds or rebates or reduction in invoice value on account of exports 28 S1503 Payments by residents for international bidding.] 5. Inserted vide NOTIFICATION NO. 89/2023 dated 16-10-2023 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 and verification of Form 15CA , Form 15CB and Form 15CC and shall be responsible for the day-to-day administration in relation to the furnishing and verification of information, certificate and quarterly statement in accordance with the provisions of sub-rules (4), (6) and (7). 11. Substituted vide NOTIFICATION NO. 89/2023 dated 16-10-2023 w.e.f. 01-01-2024 before it was read as, Explanation.- 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 ).