TMI BlogSection 195 - TDS on income of non-resident or a foreign companyX X X X Extracts X X X X X X X X Extracts X X X X ..... o a non-resident/foreign company, any sum (whether or not chargeable under the provisions of this act in the hands of recipient) shall furnish the information relating to payment of such sum, in such form and manner as may as be prescribed. Only in case of doubt deductor can approach Assessing Officer under section 195(2) Where the person responsible for paying any such sum chargeable under this Act (other than salary) to a non-resident considers that the whole of such sum would not be income chargeable in the case of the recipient, he may make an application in such form and manner to the Assessing Officer, to determine in such manner, as may be prescribed, the appropriate proportion of such sum so chargeable, and upon such determination, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f this Act, for the purposes of tax deduction u/s 195(1). [ Rule 29BA(3) ] Required Information at the time application :- While examining the application, the Assessing Officer shall also take into consideration, following information in relation to the recipient:- (i) tax payable on estimated income of the previous year relevant to the assessment year; (ii) tax payable on the assessed or returned or estimated income, as the case may be, of preceding four previous years; (iii) existing liability under the Income-tax Act, 1961 and Wealth-tax Act, 1957; (iv) advance tax payment, tax deducted at source and tax collected at source for the assessment year relevant to the previous year till the date of making application under rule 29BA(1). [ Ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is remitted to abroad is chargeable to tax in the hands of recipient 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 section 195(2)/(3) ; (b) in Part C of Form No.15CA a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hall be submitted to the authorised dealer, prior to remitting the payment. [ Rule 37BB(4) ] An income-tax authority may require the authorised dealer to furnish the signed printout of Form No.15CA referred to in clause (ii) of rule 37BB(4) for the purposes of any proceedings under the Act. [ Rule 37BB(5) ] The certificate in Form No. 15CB shall be furnished and verified electronically in accordance with the procedures, formats and standards specified in rile 37BB(8). [ Rule 37BB(6) ] A quarterly statement, for each quarter of the financial year shall be furnished in respect of all remittances referred to in sub-rules Rule 37BB(1)/ (2)/ (3) by, (i) the authorised dealer in Form No. 15CC; (ii) a Unit of an International Financial Services Ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deducted on such income, may, file an application before the Assessing Officer for refund of such tax. Form and Time Period of filling of application - Make a application in Form No. 29D, within a period of 30 days from the date of payment of such tax. Opportunity of being heard - No application shall be rejected unless an opportunity of being heard has been given to the applicant. Order should be in writing:- The Assessing Officer shall, by an order in writing, allow or reject the application, before passing an order make such inquiry as he considers necessary. Time Limit for passing order:- The order shall be passed within six months from the end of the month in which application is received. File appeal against order - If applicant is n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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