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Procedure for e-filing form 15CC for foreign remittance made u/s 195

Section 195 of the income-tax act, 1961 - deduction at source - other sums - procedure for submission of form 15cc by an authorised dealer in respect of remittances under section 195(6)

Notification no.8/2016 [f.no.dgit(s)/adg(s)-2/tds e-filing notification/110/2016], dated 4-5-2016

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 prescribed.

2. As per sub-rule (7) of rule 37BB of the Income-tax Rules, 1962, the authorised dealers are required to furnish a quarterly statement for each quarter of the financial year in Form No.15CC to the Principal Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) electronically under digital signature within fifteen days from the end of the quarter of the financial year to which such statement relates in accordance with the procedures, formats and standards specified by the Principal Director General of Income-tax (Systems) under sub-rule (8).

3. In exercise of the powers delegated by Central Board of Direct Taxes ('Board') under sub-rule (8) of Rule 37BB of the Income-tax Rules 1962, the Principal Director General of Income-tax (Systems) hereby lays down the procedure for submission of Form 15CC as follows:

(a) Generation of ITDREIN: The reporting entity is required to get registered with the Income Tax Department by logging in to the e-filing website with the login ID used for the purpose of filing the Income-tax Return of the reporting entity. In case if the reporting entity is not registered for filing Income-tax Return, it may get ITDREIN by logging in with its TAN. A link to register reporting entity has been provided under "My Account>Manage ITDREIN". The reporting entity is required to apply for different ITDREIN for different reporting entity categories. Once ITDREIN is generated, the reporting entity will receive a confirmation e-mail on the registered e-mail ID and SMS at registered mobile number. There will be no option to de-activate ITDREIN, once ITDREIN is created.

(b) Submission of details of authorised person: The reporting financial institution will then be required to submit the details of authorised person (who will file Form 15CC). Once the details of authorized person are entered by the reporting entity, the authorized person will need to confirm through activation link on e-mail by entering the OTP sent on the mobile of the authorized person and generate the password.

(c) Submission of Form 15CC: Once the authorised person of the reporting entity gets registered successfully, it is required to submit Form 15CC. The authorised person is then required to login to the e-filing website with the ITDREIN, PAN and password. The prescribed schema for the report under Form 15CC and a utility to prepare XML file can be downloaded from the e-filing website home page under forms (other than ITR) tab. The authorised person will be required to submit the PAN of the reporting entity, period for which report is to be submitted and the reporting entity category for which the report is to be submitted. The authorised person will then be provided the option to upload the Form 15CC. The form is required to be submitted using a Digital Signature Certificate of the authorised person.

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