9911796707
TMI BlogFurnishing of information for payment to a non-resident, not being a company, or to a foreign companyX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 abr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m 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 charge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ht 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation 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 busines ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
