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TMI BlogFurnishing of Information in Respect of Payments made to the Non-ResidentX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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 no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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 su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch 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. Notificatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n No. G.S.R. 978(E) dated 16th December, 2015 is available on the website of the Department at www.incometax.gov.in. X X X X Extracts X X X X X X X X Extracts X X X X
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