CBDT relaxes rules for TDS claims by non-resident firms : The Tribune India

Join Whatsapp Channel

CBDT relaxes rules for TDS claims by non-resident firms

NEW DELHI:Non-resident companies can now claim benefits of tax treaty by just providing personal details including, name, address and tax residency certificate, even without providing PAN.



New Delhi, June 29 

Non-resident companies can now claim benefits of tax treaty by just providing personal details including, name, address and tax residency certificate, even without providing PAN.

The Central Board of Direct Taxes (CBDT) has come out with Rule 37BC, which gives relaxation to non-residents from furnishing PAN number in India while claiming TDS benefits.

Non-residents include foreign partnership, foreign body corporates, besides foreign companies.

It said in the absence of PAN, a non-resident can now provide the prescribed information and will not be subject to higher rate of withholding tax on payments made by Indian companies for interest, royalty, fees for technical services.

Non-residents can now claim the beneficial provisions of the tax treaty by providing personal details — name, email-id, address etc; Tax Residency Certificate (TRC) and Tax Identification Number (TIN) or any other Unique Identification number obtained in the country of residence.

“Non-residents can now take a sigh of relief, since the beneficial provision of the amended Section 206AA has become operational and treaty benefits shall not be denied by the tax authorities in the absence of PAN. Now a non-resident can claim the beneficial provisions of the tax treaty by providing his personal details,” said Rakesh Nangia, Managing partner, Nangia & Co. — PTI

Top News

Arvind Kejriwal to be produced before Delhi court today as 6-day ED custody ends

Excise policy case: Delhi court extends ED custody of Chief Minister Arvind Kejriwal till April 1

In his submissions, Kejriwal said, ‘I am named by 4 witnesse...

Delhi High Court dismisses PIL to remove Arvind Kejriwal from CM post after arrest

Delhi High Court dismisses PIL to remove Arvind Kejriwal from CM post after arrest

The bench refuses to comment on merits of the issue, saying ...

‘Unwarranted, unacceptable’: India on US remarks on Delhi CM Arvind Kejriwal’s arrest

‘Unwarranted, unacceptable’: India on US remarks on Delhi CM Arvind Kejriwal’s arrest

MEA spokesperson says India is proud of its independent and ...

Bullying Congress culture, no wonder being rejected: PM Modi, backs senior lawyers who flagged attempts to undermine public trust in judiciary

Bullying Congress culture, no wonder being rejected: PM Modi

Backs senior lawyers who flagged attempts to undermine publi...

Gujarat court sentences former IPS officer Sanjiv Bhatt to 20 years in jail in 1996 drug case

Gujarat court sentences former IPS officer Sanjiv Bhatt to 20 years in jail in 1996 drug case

Bhatt, who was sacked from the force in 2015, is already beh...


Cities

View All