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TMI BlogPublic consultation on the proposal for amendment of Income-tax Rules 1962, to inset new rule 29BA and Form 15E, to give effect to the amendment in section 195 of the Income-tax Act, 1961 (the Act) vide Finance (No.2) Act 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... 2019- reg. Section 195 of the Act relates to levy of tax deduction at source (TDS) on any sum chargeable to tax and which is paid to a non-resident, not being a company, or to a foreign company. Prior to the amendment, sub-section (2) of the said section provided that where the person responsible for paying such sum chargeable under the Act 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 to the Assessing Officer to determine, by general or special order, the appropriate of such sum so chargeable and upon such determination, tax shall be deducted only on that proportion of the sum which is so chargeable. 2. However, no format was prescribed for m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... application by the deductor and to reduce the human interface, section 195 of the Act was amended through Finance (No.2), Act 2019. The new amended section 195 now empowers the Board to prescribe the form and manner of filing of application under sub-section (2) to determine the appropriate proportion of such sum so chargeable and upon determination tax to be deducted as per sub-section (1) of section 195 on that proportion only. Further sub-section (7) of section 195 was amended to provide that the Government may specify a class of persons or cases, where the deductor who is responsible for paying to a non-resident, not being a company, or to a foreign company, any sum, whether or not chargeable under the provisions of this Act, shall mak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, ..................................... I_______________ being the person responsible for making payment to a non-resident or to a foreign company any sum (not being income chargeable under the head "Salaries") do, hereby, request that a certificate may be issued to me after determining the appropriate proportion of such sum chargeable to tax in the case of the recipient (if any) and authorize me to deduct income tax on such appropriate proportion (if any). The relevant particulars are as below: 1. Details of the prayer i. PAN or Aadhaar ii. Name* iii. TAN iv. Status* (Individual/Firm/Company/AOP /BOI, as the case may be) v. Residential status vi. Address* vii. E-mail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i. Is payment chargeable to tax in India as per the provisions of Income-tax Act (Tick) Yes No ii. If not taxable, reasons thereof iii. if taxable, (a) the relevant section of the Act under which the payment is covered. (b) The amount of income chargeable to tax (c) The tax liability (d) Rate at which tax is required to be deducted at source* (e) Detail of Advance Tax payment, TDS, TCS for the previous year of payee, if available Advance Tax TDS TCS iv. Please upload relevant documents such as contract for sale of goods and/or provisions for services (if any), and/or for payment of royalty and/or payment of fee fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... please indicate: (a) Amount of long-term capital gains Date of sale of asset Total sale consideration Date of acquisition Total cost of acquisition (b) Amount of short-term capital gains (c) Computation of capital gains and tax liability, thereon [please upload relevant documents such as share purchase agreement, bank payment, details of cost of acquisition, contract note (if any), share certificate (if any), etc.] C. In case the payment is on account of Royalty, please indicate (a) Nature of Royalty payment (b) Tax liability on the amount of royalty paid (c) Justification of above tax liability ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... F. In case of other payment not covered by sub-items A to E (a) Please specify the nature of payment (b) Whether taxable in India as per DTAA (Tick) Yes No (c) If yes, specify relevant Article of DTAA and the rate of TDS in terms of relevant Article of the applicable DTAA (d) If not taxable, please furnish brief reasons thereof, specifying relevant article of DTAA (e) Any documents you wish to furnish in support of your claim (please upload) I................................son/daughter of..................................do hereby declare that to the best of my knowledge and belief what is stated above is correct, complete and truly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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