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TMI BlogAmendment in rule 37BB - Furnishing of information for payment to a non-resident, not being a company, or to a foreign company - Income-tax Amendment (Twenty-fifth Amendment), Rules, 2023X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income-tax Amendment (Twenty-fifth Amendment), Rules, 2023. (2) They shall come into force with effect from the 1st day of January, 2024. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 37BB,- (a) in sub-rule (3), after clause (i), the following clause shall be inserted, namely:- "(ia) the remittance is made by a Unit of an International Financial Services Centre referred to in sub-section (1A) of section 80LA; or"; (b) in sub-rule (4),- (I) in clause (i), after the words and brackets "Principal Director General of Income-tax (Systems)", the words and brackets "or the Director General of Income-tax (Systems)" shall be inserted; (II) in clause (ii), after the words and brackets "Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mely:- "(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)."; (f) for the Explanation, the following Explanation shall be substituted, namely:- 'Explanation.-- For the purposes of this rule,- (i) "authorised dealer" means a person authorised as an authorised dealer under sub-section (1) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Status of the Unit:…………………………………………………………………………………….. 5. Residential status of the Unit:………………………………………………………………………… 6. Complete address, email and phone number of the Unit:……………………………………………... 7. Details o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er the provisions of the Income-tax Act, 1961. I/We* further undertake to submit the requisite documents for enabling the income-tax authorities to determine the nature and amount of income of the recipient of the above remittance as well as documents required for determining my/our* liability under the Income-tax Act as a person responsible for deduction of tax at source. Place: Date: Signature: …………………………… Name and Designation: ………………… # If available $ If applicable * Delete whichever is not applicable". [F. No. 370142/36/2023-TPL] SOURABH JAIN, Under Secy. Note. -The principal rules were published in th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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