New Rule 29BA & Form 15E to Apply for Section 195 Certificate

1. Details of the payer:

(i)

PAN or Aadhaar

(ii)

Name

(iii)

TAN (TAN is compulsory for application u/s 195)

(iv)

Status (Individual/Firm/Company/AOP/BOI, as the case may be)

(v)

Residential status

(vi)

Address

(vii)

E-mail ID

(viii)

Mobile Number

2. Details of the recipient:

(i)

PAN (if available)

(ii)

Name

First name

Middle name

Last name

(iii)

Status (Individual/Firm/Company/AOP/BOI, as the case may be)

(iv)

Father’s name (in case of an individual)

First name

Middle name

Last name

(v)

Date of birth (in case of individuals)

(vi)

or date of incorporation, if Address in India (if applicable)

(vii)

available Address of recipient in country of Residence outside India

(viii)

Tax Identification Number of recipient in the country of Residence

(ix)

Jurisdictional AO, if any

(x)

E-mail ID

(xi)

Mobile Number

(xii)

Passport No. (in case of

individual) 3. Details of transaction

(i)

Country to which payment is to be made

(ii)

Amount payable

In Foreign Currency

In Indian Rs. (on estimated basis)

(iii)

Proposed date of payment

in dd/mm/yyyy format

(iv)

Relevant previous year for which Certificate is requested

(v)

Nature of payment/ remittance as per agreement/document:

Royalty

Fees for technical services

Dividend

Interest

Business income

Capital gains

Any other (please mention)

(vi)

In case the payment is net of taxes, whether tax payable, if any would be grossed up?

(Tick) Yes No

(vii)

Details of previous certificates obtained under section 195(2) for the same transaction

Certificate Number

Certificate Number

DIN (if available

(viii)

Tax payable on estimated income of the previous year of the recipient (if available)

(ix)

Details of advance tax, TDS, TCS for the previous year of the recipient, if available

Advance tax

TDS

TCS

(x)

Details of existing liabilities of recipient under the Income-tax Act or Wealth Tax Act, if available

(xi)

Whether the appropriate proportion of sum to be charged as income of the recipient is to be determined by applying a DTAA between India and the other country or without applying the DTAA?

(Note: in case of applicability of DTAA fill up section no 5. In case of non-applicability of DTAA fill up section no 4.)

With DTAA Without DTAA

4. Taxability under the provisions of the Income-tax Act (without considering DTAA)

(i)

Is payment chargeable to tax in India as per the provisions of Income-tax Act

(Tick) Yes No

(ii)

If not taxable, reasons thereof

(iii)

if taxable, the relevant section of the Act under which the payment is covered.

(iv)

A. If the payment is on account of business income, please indicate:

(a) Description of the business connection.

(b) The amount of income chargeable to tax under this head.

(c) Tax liability on the chargeable sum under this head

(d) Justification of above tax liability.

(e) Based on above at what rate tax is required to be deducted

B. In case the payment is on account of capital gains, please

indicate: (a) Provide:

(I) Nature of asset and its location if any

(II) Amount of long-term capital gains

(III) Amount of short-term capital gains

 (b) The amount of income chargeable to tax under this head.

(c) Tax liability on the chargeable sum under this head.

(d) Justification of above tax liability.

(e) Based on above at what rate tax is required to be deducted

C. In case the payment is on account of Royalty, please indicate

(a) Nature of Royalty payment

(b) The amount of income chargeable to tax under this head.

(c) Tax liability on the chargeable sum under this head.

(d) Justification of above tax liability.

(e) Based on above at what rate tax is required to be deducted

D. In case the payment is on account of Fee for technical services (FTS), please indicate

(a)Nature of Payment

(b) The amount of income chargeable to tax under this head.

(c) Tax liability on the chargeable sum under this head.

(d) Justification of above tax liability

(e) Based on above at what rate tax is required to be deducted

E. In case of Interest income

(a) Nature of interest income

(b) Please indicate

(i) Whether conditions of section 194LB are satisfied?

(Tick) Yes No

(ii) Whether conditions of section 194LBA are satisfied?

(Tick) Yes No

(iii) Whether conditions of section 194LC are satisfied?

(iv) Whether conditions of section 194LD are satisfied

v) Loan Registration Number (LRN) as given by Reserve Bank of India

(c) The amount of income chargeable to tax under this head.

(d) Tax liability on the chargeable sum under this head.

(e) Justification of above tax liability

f) Based on above at what rate tax is required to be deducted

F. In case of other payment not covered by items A to E, above

(a) Please specify the nature of payment

(b) The amount of income chargeable to tax under this head.

(c ) Tax Liability on the chargeable sum under this head

(d) Justification of above tax liability.

(e) Based on above at what rate tax is required to be deducted

5. Taxability under the Double Taxation Avoidance Agreement (DTAA)

(i)

Please specify relevant applicable DTAA

(ii)

Whether copy of Tax Residency Certificate and Form 10F enclosed

(Tick) Yes No

(iii)

A. If the payment is on account of business income, please indicate:

(a) Whether such business income is liable to tax in India under the DTAA

(b) If no, the reasons for the same

(Tick) Yes No

(c) If yes, the nature of permanent establishment in India

(d) The amount of income chargeable to tax under this head

(e) Tax liability on the chargeable sum under this head

(f) justification of above tax liability

(g) Based on above at what rate tax is required to be deducted

B. In case the payment is on account of capital gains, please indicate:

(a) Whether such capital gains are liable to tax in India under the DTAA

(Tick) Yes No

(b) If no, the reasons for the same

(I) Nature of asset and its location if any

(II) Amount of long-term capital gains

(III) Amount of short-term capital gains

 (d) The amount of income chargeable to tax under this head.

(e) Tax liability on the chargeable sum under this head.

(f) Justification of above tax liability.

(g) Based on above at what rate tax is required to be deducted

C. In case the payment is on account of Royalty, please indicate

(a) Whether such royalty is liable to tax in India under the DTAA

(Tick) Yes No

(b) if no, provide reasons for the same along with the nature of payment

(c) if yes, then state

(i) Nature of Royalty paid or to be paid

(ii) The amount of income chargeable to tax under this head.

(iii) Tax liability on the chargeable sum under this head

(iv) Justification of above tax liability

(v) Based on above at what rate tax is required to be deducted

D. In case the payment is on account of Fee for technical services (FTS), please indicate

(a) Whether such fee for technical service is liable to tax in India under the DTAA

(Tick) Yes No

(b) if FTS is not taxable in India under the DTAA, then state

(i) nature of payment

(ii) whether there is “Make

Available” clause in the treaty

(Tick) Yes No

(iii) if there is a claim for „Make Available‟ clause, whether such clause in FTS article is sought to be included in the DTAA through Most Favoured Nation Clause?

(Tick) Yes No

(iv) if answer to (iii) above is yes, whether notification regarding „Make Available‟ clause issued by Government of India

(Tick) Yes No

(v) If there is make available clause explain how that requirement is not satisfied

(vi) If there is no make available clause explain how the payment is not FTS

(c) if FTS is taxable in India under the DTAA , then state

(i) Nature of FTS paid or to be paid

(ii) The amount of income chargeable to tax under this head.

(iii) Tax liability on the chargeable sum under this head

(iv) Justification of above tax liability

(v) Based on above at what rate tax is required to be deducted

E. In case of Interest income

(a) Whether such interest is liable to tax in India

(Tick) Yes No

(b) if no, give reasons along with nature of interest payment

(c) if yes, then state,

(I) Nature of interest income paid or to be paid

(II) The amount of income chargeable to tax under this head.

(III) Tax liability on the chargeable sum under this head

(IV) Justification of above tax liability

(V) Based on above at what rate tax is required to be deducted

F. In case of other payment not covered by items A to E

(a) Please specify the nature of payment

(b) Whether taxable in India as per

DTAA

(Tick) Yes No

(c) If yes, specify relevant Article of DTAA and the rate of TDS in terms of relevant Article of the applicable DTAA

(d) the amount of income chargeable to tax under this head.

(e) Tax liability on the chargeable sum under this head

(f) Justification of above tax liability

(g) Based on above at what rate tax is required to be deducted

(h) If not taxable, please furnish brief reasons thereof, specifying relevant article of DTAA

6.

List of Documents to be uploaded:

( i)

Relevant documents such as contract for sale of goods and/or provisions for services (if any), computation of capital gains, share purchase agreement, bank payment, details of cost of acquisition, contract note (if any), share certificate (if any), etc.

(ii)

Details of assessed/returned/estimated income of payee of preceding four previous years, if available

(iii)

Computation of estimated income chargeable to tax and Tax Liability of the previous year.

(iv)

Copy of Tax Residency Certificate and Form 10F

(v)

Documents in support of claim of applicability of sections 194LB/194LBA/194LC/194LD

(vi)

Any other documents you wish to furnish in support of your claim.

VERIFICATION

Date:

Signature:

Place:

Address: