CBDT amends I-T Rules - information by person responsible for making any payment to non-resident
CBDT has substituted Rule 37BB of the Income Tax Rules:
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-
(i) the information in Part A of Form No.15CA, if the amount of payment does not exceed fifty thousand rupees and the aggregate of such payments made during the financial year does not exceed two lakh fifty thousand rupees;
(ii) the information in Part B of Form No.15CA for payments other than the payments referred in clause (i) after obtaining-
(a) a certificate in Form No.15CB from an accountant as defined in the Explanation below sub-section (2) of section 288; or
(b) a certificate from the Assessing Officer under section 197; or
(c) an order from the Assessing Officer under sub-section (2) or sub-section (3) of section 195.
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.
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.
The Director General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture, transmission of data and shall also be responsible for the day-to-day administration in relation to furnishing the information in the manner specified.
CBDT Notification No. 67/2013, Dated: September 2, 2013