Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
Dated: 17th December, 2015
Sub: Furnishing of information in respect of
payments made to the non-resident-regarding.
Section 195 of the Income-tax
Act (‘the Act’)empowers the Central Board of Direct Taxes to capture
information in respect of payments made to non-residents, whether chargeable to
tax or not. Rule 37 BB of the Income-tax Rules has been amended to strike a
balance between reducing the burden of compliance and collection of information
under section 195 of the Act.
changes under the amended Rules are:
Form 15CA and 15CB will be required to be furnished by an individual for
remittance which do not requiring RBI approval under its Liberalised Remmittace
- Further the list of payments of specified
nature mentioned in Rule 37 BB which do not require submission of Forms 15CA
and 15CB has been expanded from 28 to 33 including payments for imports.
- A CA certificate in Form No. 15CB will
be required to be furnished only in respect of such payments made to
non-residents which are chargeable to tax and the amount of payment during the
year exceeds Rs. 5 lakh.
Rules will become applicable from 01.04.2016.
No. G.S.R. 978(E) dated 16th
December, 2015 is available on the website of the Department at www.incometax.gov.in.
Pr. Commissioner of Income Tax
Official Spokesperson, CBDT