Furnishing of Information in Respect of Payments made to the Non-Resident
Section 195 of the Income-tax Act empowers the Central Board of Direct Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended vide Notification No. G.S.R. 978(E) dated 16th December, 2015 to strike a balance between reducing the burden of compliance and collection of information under section 195 of the Act.
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Thank you!!
Very lucid presentation.