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.

Asia-Pacific

India

«

Previous post
Greece: New tax crime sheet

Next post
Israel – Government Approves Budget 2013-2014

»

India: CBDT launches campaign to ensure accurate disclosure of foreign assets for AY 2024-25

November 20, 2024

The Indian Central Board of Direct Taxes (CBDT) launched a Compliance and Awareness Campaign on Saturday, 16 November 2024, to ensure resident taxpayers fully disclose foreign income in their income tax returns (ITRs) for the Assessment Year (AY)

India: Tax authority is required to provide justification when rejecting a taxpayer’s chosen transfer pricing method

October 28, 2024

The Delhi High Court delivered a judgement regarding the tax authority's rejection of SABIC India Pvt. Ltd.'s chosen transfer pricing method, ruling that the tax authority is required to provide justification when rejecting a taxpayer's chosen

India publishes guidance for Direct Tax Vivad se Vishwas Scheme

October 16, 2024

India's Central Board of Direct Taxes (CBDT) published a guidance, Circular No. 12 of 2024, on Direct Tax Vivad se Vishwas (DTVSV) Scheme 2024 on 15 October 2024, which was introduced in the 2024 Budget to resolve tax disputes and reduce litigation

India introduces key amendments to CGST rules

October 14, 2024

The Indian Ministry of Finance has issued Notification No. 20/2024 on 8 October 2024, implementing significant amendments to the Central Goods and Services Tax (CGST) Rules, 2017. Key changes in CGST Rules Removal of IGST refund restrictions:

India consults Income Tax Act, 1961

October 14, 2024

India's Central Board of Direct Taxes (CBDT) has initiated a public consultation to conduct a comprehensive review of the Income Tax Act, 1961. The announcement was made on 7 October 2024. In the Budget 2024-2025 speech, the Finance Minister

India announces tax amnesty scheme rules and start date for dispute settlements

October 04, 2024

India’s Central Board of Direct Taxes (CBDT) announced the effective date and the rules for implementing the "Direct Tax Vivad Se Vishwas Scheme 2024" (VSV), which was introduced in the 2024 Budget to resolve tax disputes and reduce litigation