India: CBDT amends rules relating to furnishing information on payments to nonresidents

19 September, 2013

India’s Central Board of Direct Taxes (CBDT) allotted Notification No. 67/20131 on 2 September 2013, revising the existing Rule 37BB of the Income Tax Rules 1962 which recommends the system for furnishing information electronically by a person responsible for making any payment to a nonresident.

This new Notification overrides an earlier notification 58/2013 of 5 August 2013 which amended the Rule by providing a new manner and form of furnishing information.

The revised Rule is expected to come into force as of 1 October 2013.

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