one assessee one PAN one return - NRIs – no e returns this year
The Central Board of Direct Taxes, vide Notification S.O. No. 1163(E), dated 24-7-2006, notified a new return from (Form No. 1) for companies for assessment year 2006-07. It was provided in the Form, and later explained in the Circular No. 9/2006 dated 10-10-2006 that it is mandatory for all corporate taxpayers to electronically furnish the return for assessment year 2006-07 after 24-7-2006.
It has been brought to the notice of the Board that the agents of non-residents, are facing difficulties in electronically furnishing the returns of non-residents. This is because
1. there may be more than one agent for a non-resident in India for different transactions or
2. a person in India may be an agent of more than one non-resident.
3. Such situations are not covered by the existing software which functions on the principle of one assessee one PAN one return.
So the Board has decided that it will not be mandatory for agents of non-residents, to electronically furnish the returns of non-residents in Form No. 1 for assessment year 2006-07
CIRCULAR NO. , Dated: November 27, 2006