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  • Rule 37BC

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    Ranjan Khandelwal
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    This document provides guidance on relaxing the deduction of tax at a higher rate under section 206AA of the Income Tax Act for non-resident individuals and foreign companies. It specifies that section 206AA will not apply to certain payments if the non-resident provides details like name, address, contact information, a certificate of residence, and tax identification number to the deducting party. The details must include the non-resident's country of residence, tax identification number if available, and a unique identifier if a tax number is not available.

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    RULE 37BC

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    This document provides guidance on relaxing the deduction of tax at a higher rate under section 206AA of the Income Tax Act for non-resident individuals and foreign companies. It specifies that section 206AA will not apply to certain payments if the non-resident provides details like name, address, contact information, a certificate of residence, and tax identification number to the deducting party. The details must include the non-resident's country of residence, tax identification number if available, and a unique identifier if a tax number is not available.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    151 views1 page

    Rule 37BC

    Uploaded by

    Ranjan Khandelwal
    This document provides guidance on relaxing the deduction of tax at a higher rate under section 206AA of the Income Tax Act for non-resident individuals and foreign companies. It specifies that section 206AA will not apply to certain payments if the non-resident provides details like name, address, contact information, a certificate of residence, and tax identification number to the deducting party. The details must include the non-resident's country of residence, tax identification number if available, and a unique identifier if a tax number is not available.

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    12/5/2016 IncomeTaxDepartment

    1[Relaxationfromdeductionoftaxathigherrateundersection206AA.

    37BC.(1)Inthecaseofanonresident,notbeingacompany,oraforeigncompany(hereafterreferred
    toas'deductee')andnothavingpermanentaccountnumbertheprovisionsofsection206AAshallnot
    applyinrespectofpaymentsinthenatureofinterest,royalty,feesfortechnicalservicesandpayments
    ontransferofanycapitalasset,ifthededucteefurnishesthedetailsandthedocumentsspecifiedinsub
    rule(2)tothedeductor.
    (2)Thededucteereferredtoinsubrule(1),shallinrespectofpaymentsspecifiedtherein,furnishthe
    followingdetailsanddocumentstothedeductor,namely:
    (i) name,emailid,contactnumber
    (ii) addressinthecountryorspecifiedterritoryoutsideIndiaofwhichthededucteeisaresident
    (iii) a certificateofhisbeing resident in any country or specified territory outsideIndiafromthe
    Governmentofthatcountryorspecifiedterritoryifthelawofthatcountryorspecifiedterritory
    providesforissuanceofsuchcertificate
    (iv) TaxIdentificationNumberofthededucteeinthecountryorspecifiedterritoryofhisresidence
    and in case no such number is available, then a unique number on the basis of which the
    deducteeisidentifiedbytheGovernmentofthatcountryorthespecifiedterritoryofwhichhe
    claimstobearesident.]

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