section 195 notification

CBDT proposes to inset new Income Tax rule 29BA and Form 15E

F. No. 370142/24/2019-TPL (31/12/2019)

Public consultation on the proposal for amendment of Income-tax Rules 1962, to inset new rule 29BA and Form 15E, to give effect to the amendment in section 195 of the Income-tax Act, 1961 (the Act) vide Finance (No.2) Act 2019- reg....

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Approval of CIT (Intl. Taxation) not required for certificates U/s. 197/195 if revenue effect is less than Rs. 10 crore

Notification No. F.No.275/16/2019-IT(B) (02/09/2019)

it has been decided to raise threshold of revenue effect for issue of certificates under section 197/195 needing approval of the Commissioner of Income Tax (Intl. Taxation) to Rs. 10 Crore. This threshold will be applicable for all stations in respect of all applications of non-resident taxpayers either pending as on date or filed hereaft...

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Issue Lower/ Nil Rate TDS deduction Certificate within prescribed time

F. No. 275/20/2018-IT(B) (26/07/2018)

CBDT instructed its officers to Adhere to prescribed time-line for issue of certificate of no deduction or deduction of tax at lower rate u/s 197 and 195 of the I.T. Act-1961...

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Relaxation in conditions for issue of certificate without tax deduction

Notification No. 31/2016-Income Tax (05/05/2016)

Income Tax Rules 29B is related to Application for certificate authorising receipt of interest and other sums without deduction of tax under sub-section (1) of section 195. In this rule one of the condition for issue of certificate was that person applying for the certificate has not been subjected to penalty under clause (iii) of sub-se...

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Procedure for submission of Form 15CC for remittance U/s. 195(6)

CBDT (DIT-Systems) Notification 8/2016 (04/05/2016)

Under sub-section (6) of section 195 of the Income-tax Act, person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum, whether or not chargeable under the provisions of this Act, is required to furnish the information relating to payment of such sum, in such form and manner, as may be prescribe...

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Excess of TDS deposited U/s. 195 eligible for Interest U/s. 244A

Circular No. 11/2016-Income Tax (26/04/2016)

The procedure for refund of tax deducted at source under section 195 of the Income tax Act, 1961, to the person deducting the tax is delineated in CBDT Circular No. 7/2007 dated 23.10.2007. Circular No. 7/2007 states that no interest under section 244A of the Act, is admissible on refunds to be granted in accordance with the circular or o...

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Online certificate u/s 195(2) and 195(3) for lower/ no deduction

TDS Instruction No . 51 (04/02/2016)

TDS Instruction No . 51 Request has been received from field formations and tax payers to provide functionality for issue of online certificate u/s 195(2) and 195(3) for lower / no deduction as manual certificates were not being considered during processing of TDS statements by CPC TDS....

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Disallowance for failure to withhold tax- Sec.195 rw Sec. 40(a)(i)

Circular No. 3/2015-Income Tax (12/02/2015)

Circular No. 3/2015 Section 40(a)(i) of the Act stipulates that in computing the income chargeable under the head "Profits or gains of business or profession", any interest, royalty, fees for technical services or other sum chargeable under this Act either payable in India to a non-resident (not being a company)/a foreign company or payab...

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S. 195 AOs to tax taxable part of sum paid to NR for TDS default

Instruction No. 02/2014 (26/02/2014)

Sub: Deduction of tax at source under Section 195 read with Sections 201 of the Income-tax Act, 1961 relating to payment made to a non-resident-reg. Section 195 of the Income-tax Act (hereafter referred to as 'the Act') provides that any person, responsible for paying to a non-resident not being a company or to a foreign company, any s...

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Circular No. 786/2000-Income Tax Dated 7/2/2000

Circular No. 786/2000-Income Tax (07/02/2000)

Circular No. 786-Income Tax Deduction of tax u/s 195 and the taxability of export commission payable to non-resident agents rendering services abroad - clarification regarding. In the Audit Report for 1997-98 (D P No 79(I.T.) The Comptroller & Auditor General (C&AG) raised an objection that the Assessing Officer in computing the Profits ...

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