INCOME-TAX (FOURTEENTH
AMENDMENT) RULES, 2013
SUBSTITUTION OF RULE
37BB AND FORM NOS. 15CA AND 15CB
NOTIFICATION NO.
67/2013 DATED 2-9-2013
Payment to Non Resident - Substitution of Rule 37BB & Form No. 15CA & 15CB
In supersession of the
notification of the Government of India in the Ministry of Finance, , issued by
the CBDT vide number S.O.2363(E)
dated the 5th August, 2013, the CBDT hereby issues Notification No.67 dated 02.09.2013 and makes
the following rules further to amend the Income-tax Rules, 1962, namely:—
1. (1) These rules may be called the Income-tax (14th Amendment)
Rules, 2013.
(2) They shall come into force on the 1st
day of October, 2013.
2. In the Income-tax Rules, 1962 for rule 37BB, the following
rule shall be substituted, namely: —"37BB. Furnishing
of information by the person responsible for making any payment including any
interest or salary or any other sum chargeable to tax, to a non-resident, not
being a company, or to a foreign company—
(1) Any person
responsible for paying to a non-resident, not being a company, or to a foreign
company, any interest or salary or any other sum chargeable to tax under the
provisions of the Act, shall furnish the following, namely:—
(i)
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the information in Part A of Form No.15CA,
a)
if the amount of
payment does not exceed Rs.50000/- (fifty thousand rupees) and
b)
the aggregate of
such payments made during the financial year does not exceed Rs.250000/- (two
lac fifty thousand rupees);
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(ii)
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the information in Part B of Form No.15CA for payments other
than the payments referred in clause (i) after obtaining—
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(a)
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a certificate in Form No. 15CB from an accountant as defined
in the Explanation below sub-section (2) of section 288; or
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(b)
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a certificate from the Assessing Officer under section 197; or
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(c)
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an order from the Assessing Officer under sub-section (2) or
sub-section (3) of section 195.
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(2) The information in
Form No. 15CA shall be furnished by the person electronically to the website
designated by the Income-tax Department and thereafter signed printout of the
said form shall be submitted to the authorised dealer, prior to remitting the payment.
(3) An income-tax
authority may require the authorised dealer to furnish the signed printout
referred to in sub-rule (2) for the purposes of any proceedings under the Act.
Explanation 1 Specified list as per earlier
notification dated August 5, 2013 is amended
to exclude following items of payment
it is hereby clarified that for payments of the nature specified here below
excluded from the specified list information is required to be furnished :
1.
Payment
for life insurance premium;
2.
Other
general insurance premium;
3. Payments
on account of stevedoring, demurrage, port handling charges etc;
4.
Freight
on imports - Airline companies;
5.
Booking
of passages abroad – Shipping companies;
6.
Freight
on exports - Shipping companies;
7.
Freight
on imports - Shipping companies;
8.
Payment
for surplus freight or passenger fare by foreign shipping companies operating
in India;
9.
Imports
by diplomatic missions;
10. Payment towards
imports-settlement of invoice; and
11. Advance payment against imports.
Explanation II- It is hereby clarified
that for payments of the nature specified in column (3) of the specified list
below, no information is required to be furnished under sub-rule (1).
SPECIFIED LIST
Sl.No.
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Purpose code as per
RBI
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Nature of payment
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(1)
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(2)
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(3)
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1
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S0001
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Indian investment
abroad -in equity capital (shares)
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2
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S0002
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Indian investment
abroad -in debt securities
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3
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S0003
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Indian investment
abroad -in branches and wholly owned subsidiaries
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4
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S0004
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Indian investment
abroad -in subsidiaries and associates
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5
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S0005
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Indian investment
abroad -in real estate
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6
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S0011
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Loans extended to
Non-Residents
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7
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S0202
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Payment- for
operating expenses of Indian shipping companies operating abroad.
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8
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S0208
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Operating expenses
of Indian Airlines companies operating abroad
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9
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S0212
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Booking of passages
abroad -Airlines companies
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10
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S0301
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Remittance towards
business travel.
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11
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S0302
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Travel under basic
travel quota (BTQ)
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12
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S0303
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Travel for
pilgrimage
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13
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S0304
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Travel for medical
treatment
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14
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S0305
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Travel for education
(including fees, hostel expenses etc.)
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15
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S0401
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Postal services
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16
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S0501
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Construction of
projects abroad by Indian companies including import of goods at project site
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17
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S0602
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Freight insurance -
relating to import and export of goods
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18
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S1011
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Payments for
maintenance of offices abroad
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19
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S1201
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Maintenance of
Indian embassies abroad
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20
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S1 202
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Remittances by
foreign embassies in India
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21
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S1301
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Remittance by
non-residents towards family maintenance and-savings
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22
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S1302
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Remittance towards
personal gifts and donations
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23
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S1303
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Remittance towards
donations to religious and charitable institutions abroad
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24
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S1304
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Remittance towards
grants and donations to other Governments and charitable institutions
established by the Governments.
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25
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S1305
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Contributions or
donations by the Government to international institutions
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26
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S1306
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Remittance towards
payment or refund of taxes.
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27
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S1501
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Refunds or rebates
or reduction in invoice value on account of exports
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28
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S1503
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Payments by
residents for international bidding".
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