Rule 209 allows eligible branches of foreign banks, insurers, and other entities to apply in Form 126 for a certificate authorising receipt of specified income without TDS, subject to strict compliance conditions.
Rules 207–208 mandate telegraphic transfer buying rate for foreign currency TDS and introduce Form 125 for specified senior citizens to enable proper tax deduction by banks.
Rule 206 mandates use of the telegraphic transfer buying rate with defined specified dates for different income heads to ensure uniform foreign currency conversion into rupees.
Rules 204–205 mandate specific forms and documentary evidence for salary TDS computation, ensuring proper disclosure of income, deductions, and employee claims.
Rules 201–203 streamline certification of advance rulings, align High Court appeal procedures, and prescribe detailed conditions for grant and allocation of TDS/TCS credit.
Rule 200 mandates filing of advance ruling applications in Form 120 with transaction-based fee slabs, ensuring structured and uniform compliance under section 383.
Rule 199 clarifies what constitutes a “specified order” and lays down strict eligibility conditions to determine who can approach the Dispute Resolution Committee under section 379.
Rules 197–198 prescribe Form 119 with ₹1,000 fee for DRC applications and set clear conditions for penalty waiver or prosecution immunity under section 379.
RBI has informed regulated entities about the removal of one entry from the UNSC ISIL and Al-Qaida sanctions list. Financial institutions must update records and ensure strict compliance under Section 51A of UAPA and KYC Directions.
Rule 215 prescribes Forms 130–133, fixed due dates, and digital authentication requirements to ensure uniform issuance of TDS/TCS certificates under section 395(4).
