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CBDT amends I-T Rules for furnishing of info of sum paid to NRs; revised Forms 15CA and 15CB notified

August 7, 2013

INCOME-TAX (TWELFTH AMENDMENT) RULES, 2013 - SUBSTITUTION OF RULE 37BB AND FORM NOS. 15CA AND 15CB

NOTIFICATION NO. 58/2013 [F.NO.149/119/2012-SO(TPL)]/SO 2363(E), DATED 5-8-2013

In exercise of the powers conferred by sub-section (6) of section 195 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income-tax (12th Amendment) Rules, 2013.

(2) They shall come into force on the 1st day of October, 2013.

2. In the Income-tax Rules, 1962 (hereafter referred to as the said rules), for rule 37BB, the following rule shall be substituted, namely:—

"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".

3. In the said rules, in Appendix II, for Form No.15CA and Form No. 15CB, the following Forms shall be substituted, namely:-

FORM NO. 15CA

(See rule 37BB)

Information to be furnished for payments to a non-resident not being a company, or to a foreign company

 

Form No. 15CB

(See rule 37BB)

Certificate of an accountant 1


1. To be signed and verified by an accountant (other than an employee) as defined in the Explanation below sub-section (2) of section 288 of Income-tax Act, 1961.

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