• Breaking News

    Loading...

    Dec 1, 2009

    Remittances of Consular receipts to non-residents under section 195 of the Income-tax Act

    Circular No. 9 /2009
    F.No.142/19/2007-TPL
    Government of India
    Ministry of Finance
    Department of Revenue
    (Central Board of Direct Taxes)
    ****
    New Delhi, the 30th November, 2009

    Subject:- Remittances to non-residents under section 195 of the Income-tax Act ––
    remittances of Consular receipts - clarification reg:-


    1-Reference is drawn to Circular No. 4/2009 dated 29th June, 2009 prescribing
    the revised procedure for furnishing information regarding remittances being made to
    non-residents w.e.f. 1st July, 2009.

    2. As per Article 28 of schedule to section 2 of the Diplomatic Relations (Vienna
    Convention) Act, 1972, the fees and charges levied by a diplomatic mission in the course
    of its official duties shall be exempt from all dues and taxes.

    3. In view of the above, while remitting consular receipts abroad, diplomatic missions in
    India will be required to submit only a self certified undertaking in Form No 15CA to the
    remitter bank. They are not required to obtain a certificate from an accountant/ certificate
    of Assessing officer (Form 15CB). The procedure for furnishing information regarding
    remittances of consular receipts by diplomatic missions in India will be as follows:-

    (i) The diplomatic mission will access the website to electronically upload the remittance
    details to the Income-tax Department in Form 15CA (undertaking).

    (ii) The diplomatic mission will then take a print out of this filled up Form 15CA (which
    will bear an acknowledgement number generated by the system) and sign it. Form 15CA
    (undertaking) can be signed by the Head of the mission or by an officer of the mission so
    authorized by the Head of the mission.

    (iii) The duly certified Form 15CA (undertaking) will be submitted in duplicate to the
    Reserve Bank of India / authorized dealer. The Reserve Bank of India / authorized dealer
    will in turn forward a copy of the undertaking to the Assessing Officer concerned.

    (Munesh Kumar)

    Secretary,
    Central Board of Direct Taxes.

    No comments:

    Post a Comment

    Featured