Taxation Non Resident Indian

Income Tax TDS Rates Chart for Year 2012-2013 and 2013-14

December 31, 2012December 31, 2012 admin 27 Comments

Latest Tax Deduction at Source (TDS) Rates Chart for Year 2012-2013 and 2013-14 as per Income Tax Act, 1961. Income tax has prescribed the different TDS rates for different payments like TDS Rates on Payment of Interest, TDS on payment to NRI, TDS rate on winning from lottery or puzzle or quiz shows, TDS rate on payment made to contractor, TDS rate on Rent on House, TDS Rate on Rental on Plant & Machinery, TDS rate on payment made to professional for their services.Check Your TDS Deduction Statement Online Form 26AS. Finance Act, 2013 has imposed the TDS at the rate of 1 percent on the value of the transfer of immovable properties where consideration exceeds Rs.50 lakhs. Agricultural land to be exempted from TDS provision.

Particulars of Payment	Rate of Deduction
TDS on Interest Income	10%
TDS on Payment to NRI	20%/30%
TDS on Winning from Lottery, crossword, puzzles	30%
TDS on Winning from horse races	30%
TDS on Individual, HUF contractor or sub contractor	1%
TDS on Other contractor, sub contractor except individual and HUF	2%
TDS on Insurance commission (for other assessee except company)	10%
TDS on Insurance commission company	10%
Commission and brokerage	10%
TDS on Rent on plant and building	2%
TDS on Rent on land, building and furniture	10%
TDS on On professional and technical fees	10%
TDS on Salary Income: As per Income Tax Slab Rates

How to determine residential status of an individual under Section 6(1) of the Income Tax Act

December 31, 2012December 31, 2012 admin 3 Comments

An Individual can either be:

Resident and ordinary resident in India
Resident but not ordinary resident
Non-resident in India

Resident and ordinary resident

To find out whether an Individual is “Resident and ordinary resident” in India, following two steps are satisfied-

Step 1: An individual is “Resident” in India

Step 2: If such Individual is “Resident” in India, then find out whether he is “ordinary resident” in India or “Non-resident” in India

Step 1: An individual is “Resident” in India

An individual is said to be Resident in India in any previous year if he satisfied one of the following basic conditions –

He has been in India in the previous year for 182 days or more
He has been in India in the precious year for 60 days or more and 365 days or more during 4 years immediately preceding the previous year

If any one of the following Basic condition is satisfied then an Individual is treated as “Resident” in India if not satisfied an Individual is treated as “Non-resident” in India

Step 2: An Individual is “ordinary Resident” or “Non-resident” in India

If an Individual is Resident in India, then the following both additional conditions are satisfied for “ordinary resident”

He has been resident in India in at least 2 out of 10 previous years immediately preceding the relevant previous year.
He has been in India for 730 days or more during 7 years immediately preceding the relevant previous year.

If the both additional condition and one Basic are satisfied, an Individual is treated as “Resident and Ordinary resident” in India and

Resident but not ordinary resident

If any one of Basic condition is satisfied and any one of the following additional condition is not satisfied, an Individual is treated as “Resident but Not ordinary Resident” in India

Reference: section 6 of Income Tax Act, 1961

Residence in India

For the purposes of this Act,—

(1). An individual is said to be resident in India in any previous year, if he—

is in India in that year for a period or periods amounting in all to one hundred and eighty-two days or more ; or
having within the four years preceding that year been in India for a period or periods amounting in all to three hundred and sixty-five days or more, is in India for a period or periods amounting in all to sixty days or more in that year.

Explanation.—In the case of an individual,—

being a citizen of India, who leaves India in any previous year as a member of the crew of an Indian ship as defined in clause (18) of section 3 of the Merchant Shipping Act, 1958 (44 of 1958), or] for the purposes of employment outside India, the provisions of sub-clause (c) shall apply in relation to that year as if for the words “sixty days”, occurring therein, the words “one hundred and eighty-two days” had been substituted ;
being a citizen of India, or a person of Indian origin within the meaning of Explanation to clause (e) of section 115C, who, being outside India, comes on a visit to India in any previous year, the provisions of sub-clause (c) shall apply in relation to that year as if for the words “sixty days”, occurring therein, the words “one hundred and eighty-two days” had been substituted.

(2). A Hindu undivided family, firm or other association of persons is said to be resident in India in any previous year in every case except where during that year the control and management of its affairs is situated wholly outside India.

(3). A company is said to be resident in India in any previous year, if—

it is an Indian company ; or
during that year, the control and management of its affairs is situated wholly in India.

(4). Every other person is said to be resident in India in any previous year in every case, except where during that year the control and management of his affairs is situated wholly outside India.

(5). If a person is resident in India in a previous year relevant to an assessment year in respect of any source of income, he shall be deemed to be resident in India in the previous year relevant to the assessment year in respect of each of his other sources of income.

(6). A person is said to be “not ordinarily resident” in India in any previous year if such person is—

an individual who has been a non-resident in India in nine out of the ten previous years preceding that year, or has during the seven previous years preceding that year been in India for a period of, or periods amounting in all to, seven hundred and twenty-nine days or less; or
a Hindu undivided family whose manager has been a non-resident in India in nine out of the ten previous years preceding that year, or has during the seven previous years preceding that year been in India for a period of, or periods amounting in all to, seven hundred and twenty-nine days or less.

Exemptions on Interest on Bonds/Debentures of Public Sector Companies

December 31, 2012December 31, 2012 admin Leave a comment

Section 10 of the Income tax act,1961 deals with the Income which are exempted from Income Tax and as per 10(15) of the Income Tax Act,1961 income by way of interest, premium on redemption or other payment on such securities, bonds, annuity certificates, savings certificates, other certificates issued by the Central Government subject to such conditions and limits as prescribed are exempted from Income Tax.

As per Section 10(15) of the income Tax Act, 1961

(i) income by way of interest, premium on redemption or other payment on such securities, bonds, annuity certificates, savings certificates, other certificates issued by the Central Government and deposits as the Central Government may, by notification in the Official Gazette, specify in this behalf, subject to such conditions and limits as may be specified in the said notification ;

(iib) in the case of an individual or a Hindu undivided family, interest on such Capital Investment Bonds as the Central Government may, by notification in the Official Gazette, specify in this behalf :

Provided that the Central Government shall not specify, for the purposes of this sub-clause, such Capital Investment Bonds on or after the 1st day of June, 2002;

(iic) in the case of an individual or a Hindu undivided family, interest on such Relief Bonds as the Central Government may, by notification in the Official Gazette, specify in this behalf ;

(iid) interest on such bonds, as the Central Government may, by notification in the Official Gazette, specify, arising to—

(a) a non-resident Indian, being an individual owning the bonds ; or

(b) any individual owning the bonds by virtue of being a nominee or survivor of the non-resident Indian ; or

Provided that the aforesaid bonds are purchased by a non-resident Indian in foreign exchange and the interest and principal received in respect of such bonds, whether on their maturity or otherwise, is not allowable to be taken out of India :

Provided further that where an individual, who is a non-resident Indian in any previous year in which the bonds are acquired, becomes a resident in India in any subsequent year, the provisions of this sub-clause shall continue to apply in relation to such individual :

Provided also that in a case where the bonds are encashed in a previous year prior to their maturity by an individual who is so entitled, the provisions of this sub-clause shall not apply to such individual in relation to the assessment year relevant to such previous year :

Provided also that the Central Government shall not specify, for the purposes of this sub-clause, such bonds on or after the 1st day of June, 2002.]

Explanation.—For the purposes of this sub-clause, the expression “non-resident Indian” shall have the meaning assigned to it in clause (e) of section 115C;

(iii) interest on securities held by the Issue Department of the Central Bank of Ceylon constituted under the Ceylon Monetary Law Act, 1949;

(iiia) interest payable to any bank incorporated in a country outside India and authorised to perform central banking functions in that country on any deposits made by it, with the approval of the Reserve Bank of India, with any scheduled bank.

Explanation.—For the purposes of this sub-clause, “scheduled bank” shall have the meaning assigned to it in clause (ii) of the Explanation to clause (viia) of sub-section (1) of section 36;

(iiib) interest payable to the Nordic Investment Bank, being a multilateral financial institution constituted by the Governments of Denmark, Finland, Iceland, Norway and Sweden, on a loan advanced by it to a project approved by the Central Government in terms of the Memorandum of Understanding entered into by the Central Government with that Bank on the 25th day of November, 1986;

(iiic) interest payable to the European Investment Bank, on a loan granted by it in pursuance of the framework-agreement for financial co-operation entered into on the 25th day of November, 1993 by the Central Government with that Bank;]

(iv) interest payable—

(a) by Government or a local authority on moneys borrowed by it before the 1st day of June, 2001 from, or debts owed by it before the 1st day of June, 2001 to, sources outside India;

(b) by an industrial undertaking in India on moneys borrowed by it under a loan agreement entered into before the 1st day of June, 2001 with any such financial institution] in a foreign country as may be approved in this behalf by the Central Government by general or special order ;

(c) by an industrial undertaking in India on any moneys borrowed or debt incurred by it before the 1st day of June, 2001] in a foreign country in respect of the purchase outside India of raw materials or components] or capital plant and machinery, to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf having regard to the terms of the loan or debt and its repayment.

[Explanation 1.]—For the purposes of this item, “purchase of capital plant and machinery” includes the purchase of such capital plant and machinery under a hire-purchase agreement or a lease agreement with an option to purchase such plant and machinery.

[Explanation 2.—For the removal of doubts, it is hereby declared that the usance interest payable outside India by an undertaking engaged in the business of ship-breaking in respect of purchase of a ship from outside India shall be deemed to be the interest payable on a debt incurred in a foreign country in respect of the purchase outside India;

(d) by the Industrial Finance Corporation of India established by the Industrial Finance Corporation Act, 1948 (15 of 1948), or the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964), or the Export-Import Bank of India established under the Export-Import Bank of India Act, 1981 (28 of 1981), or the National Housing Bank established under section 3 of the National Housing Bank Act, 1987 (53 of 1987), or the Small Industries Development Bank of India established under section 3 of the Small Industries Development Bank of India Act, 1989 (39 of 1989),] or the Industrial Credit and Investment Corporation of India [a company formed and registered under the Indian Companies Act, 1913 (7 of 1913)], on any moneys borrowed by it from sources outside India before the 1st day of June, 2001, to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan and its repayment;

[(e) by any other financial institution established in India or a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that Act), on any moneys borrowed by it from sources outside India before the 1st day of June, 2001] under a loan agreement approved by the Central Government where the moneys are borrowed either for the purpose of advancing loans to industrial undertakings in India for purchase outside India of raw materials or capital plant and machinery or for the purpose of importing any goods which the Central Government may consider necessary to import in the public interest, to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan and its repayment;

(f) by an industrial undertaking in India on any moneys borrowed by it in foreign currency from sources outside India under a loan agreement approved by the Central Government before the 1st day of June, 2001] having regard to the need for industrial development in India, to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan and its repayment;

(fa) by a scheduled bank to a non-resident or to a person who is not ordinarily resident within the meaning of sub-section (6) of section 6 on deposits in foreign currency where the acceptance of such deposits by the bank is approved by the Reserve Bank of India.

Explanation.—For the purposes of this item, the expression “scheduled bank” means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other bank being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), but does not include a co-operative bank;]

(g) by a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes, [being a company eligible for deduction under clause (viii) of sub-section (1) of section 36 on any moneys borrowed by it in foreign currency from sources outside India under a loan agreement approved by the Central Government before the 1st day of June, 2003, to the extent to which such interest does not exceed the amount of interest calculated at the rate approved by the Central Government in this behalf, having regard to the terms of the loan and its repayment.

Explanation.—For the purposes of items (f), (fa) and (g), the expression “foreign currency” shall have the meaning assigned to it in the Foreign Exchange Regulation Act, 1973 (46 of 1973);]

(h) by any public sector company in respect of such bonds or debentures and subject to such conditions, including the condition that the holder of such bonds or debentures registers his name and the holding with that company, as the Central Government may, by notification in the Official Gazette, specify in this behalf;

(i) by Government on deposits made by an employee of the Central Government or a State Government or a public sector company, in accordance with such scheme as the Central Government may, by notification in the Official Gazette, frame in this behalf, out of the moneys due to him on account of his retirement, whether on superannuation or otherwise.

Explanation 1.—For the purposes of this sub-clause, the expression “industrial undertaking” means any undertaking which is engaged in—

(a) the manufacture or processing of goods; or

(aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or]

(b) the business of generation or distribution of electricity or any other form of power; or

(ba) the business of providing telecommunication services; or

(d) the construction of ships; or

da) the business of ship-breaking; or

(e) the operation of ships or aircrafts or construction or operation of rail systems.

Explanation 1A.—For the purposes of this sub-clause, the expression “interest” shall not include interest paid on delayed payment of loan or on default if it is in excess of two per cent per annum over the rate of interest payable in terms of such loan.]

Explanation 2.—For the purposes of this clause, the expression “interest” includes hedging transaction charges on account of currency fluctuation;

(v) interest on—

(a) securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, in the Reserve Bank’s SGL Account No. SL/DH 048;

(b) deposits for the benefit of the victims of the Bhopal gas leak disaster held in such account, with the Reserve Bank of India or with a public sector bank, as the Central Government may, by notification in the Official Gazette, specify, whether prospectively or retrospectively but in no case earlier than the 1st day of April, 1994 in this behalf.

Explanation.—For the purposes of this sub-clause, the expression “public sector bank” shall have the meaning assigned to it in the Explanation to clause (23D);]

(vi) interest on Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified by the Central Government;]

(vii) interest on bonds—

(a) issued by a local authority or by a State Pooled Finance Entity; and

(b) specified by the Central Government by notification in the Official Gazette.

Explanation.—For the purposes of this sub-clause, the expression “State Pooled Finance Entity” shall mean such entity which is set up in accordance with the guidelines for the Pooled Finance Development Scheme notified by the Central Government in the Ministry of Urban Development;]

(viii) any income by way of interest received by a non-resident or a person who is not ordinarily resident, in India on a deposit made on or after the 1st day of April, 2005, in an Offshore Banking Unit referred to in clause (u) of section 2 of the Special Economic Zones Act, 2005;

Download Form 49AA: PAN Card Application for Non Resident India(NRI), Foriegn Coroprates and Entity in PDF Format

December 31, 2012December 31, 2012 admin Leave a comment

Download Income Tax Form 49AA, PAN Card Application for Non Resident India(NRI), Foriegn Coroprates and Entity in PDF Format. ITR FORM NO. 49AA is used for Application for Allotment of Permanent Account Number. FORM NO. 49AA is relevant to any person who not being a Citizen of India/Entities incorporated outside India/ Unincorporated entities formed in India.

(1) Every person,—

(i) if his total income or the total income of any other person in respect of which he is assessable under this Act during any previous year exceeded the maximum amount which is not chargeable to income-tax; or

(ii) carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed [five lakh] rupees in any previous year; or

(iii) who is required to furnish a return of income under [sub-section (4A) of section 139; or

(iv) being an employer, who is required to furnish a return of fringe benefits under section 115WD,]

and who has not been allotted a permanent account number shall, within such time, as may be prescribed, apply to the Assessing Officer for the allotment of a permanent account number.

[(1A) Notwithstanding anything contained in sub-section (1), the Central Government may, by notification in the Official Gazette, specify, any class or classes of persons by whom tax is payable under this Act or any tax or duty is payable under any other law for the time being in force including importers and exporters whether any tax is payable by them or not and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number.]

[(1B) Notwithstanding anything contained in sub-section (1), the Central Government may, for the purpose of collecting any information which may be useful for or relevant to the purposes of this Act, by notification in the Official Gazette, specify, any class or classes of persons who shall apply to the Assessing Officer for the allotment of the permanent account number and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number.]

[(2) The Assessing Officer, having regard to the nature of the transactions as may be prescribed, may also allot a permanent account number, to any other person (whether any tax is payable by him or not), in the manner and in accordance with the procedure as may be prescribed.]

(3) Any person, not falling under sub-section (1) or sub-section (2), may apply to the Assessing Officer for the allotment of a permanent account number and, thereupon, the Assessing Officer shall allot a permanent account number to such person forthwith.

(4) For the purpose of allotment of permanent account numbers under the new series, the Board may, by notification in the Official Gazette, specify the date from which the persons referred to in sub-sections (1) and (2) and other persons who have been allotted permanent account numbers and residing in a place to be specified in such notification, shall, within such time as may be specified, apply to the Assessing Officer for the allotment of a permanent account number under the new series and upon allotment of such permanent account number to a person, the permanent account number, if any, allotted to him earlier shall cease to have effect :

Provided that the persons to whom permanent account number under the new series has already been allotted shall not apply for such number again.

(5) Every person shall—

(a) quote such number in all his returns to, or correspondence with, any income-tax authority;

(b) quote such number in all challans for the payment of any sum due under this Act;

(c) quote such number in all documents pertaining to such transactions as may be prescribedby the Board in the interests of the revenue, and entered into by him:

Provided that the Board may prescribe different dates for different transactions or class of transactions or for different class of persons:

[Provided further that a person shall quote General Index Register Number till such time Permanent Account Number is allotted to such person;]

(d) intimate the Assessing Officer any change in his address or in the name and nature of his business on the basis of which the permanent account number was allotted to him.

[(5A) Every person receiving any sum or income or amount from which tax has been deducted under the provisions of Chapter XVIIB, shall intimate his permanent account number to the person responsible for deducting such tax under that Chapter :

Provided further that a person referred to in this sub-section shall intimate the General Index Register Number till such time permanent account number is allotted to such person.

(5B) Where any sum or income or amount has been paid after deducting tax under Chapter XVIIB, every person deducting tax under that Chapter shall quote the permanent account number of the person to whom such sum or income or amount has been paid by him—

(i) in the statement furnished in accordance with the provisions of sub-section (2C) of section 192;

(ii) in all certificates furnished in accordance with the provisions of section 203;

(iii) in all returns prepared and delivered or caused to be delivered in accordance with the provisions of section 206 to any income-tax authority;

[(iv) in all [***] statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 200:]

Provided that the Central Government may, by notification in the Official Gazette, specify different dates from which the provisions of this sub-section shall apply in respect of any class or classes of persons:

Provided further that nothing contained in sub-sections (5A) and (5B) shall apply in case of a person whose total income is not chargeable to income-tax or who is not required to obtain permanent account number under any provision of this Act if such person furnishes to the person responsible for deducting tax, a declaration referred to in section 197A in the form and manner prescribed thereunder to the effect that the tax on his estimated total income of the previous year in which such income is to be included in computing his total income will be nil.

(5C) Every buyer [or licensee or lessee] referred to in section 206C shall intimate his permanent account number to the [person responsible for collecting tax] referred to in that section.

(5D) Every [person] collecting tax in accordance with the provisions of section 206C shall quote the permanent account number of every buyer [or licensee or lessee] referred to in that section—

(i) in all certificates furnished in accordance with the provisions of sub-section (5) of section 206C;

(ii) in all returns prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (5A) or sub-section (5B) of section 206C to an income-tax authority;]

[(iii) in all statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 206C.]

(6) Every person receiving any document relating to a transaction prescribed under clause (c) of sub-section (5) shall ensure that the Permanent Account Number [or the General Index Register Number] has been duly quoted in the document.

(7) No person who has already been allotted a permanent account number under the new series shall apply, obtain or possess another permanent account number.

[Explanation.—For the removal of doubts, it is hereby declared that any person, who has been allotted a permanent account number under any clause other than clause (iv) of sub-section (1), shall not be required to obtain another permanent account number and the permanent account number already allotted to him shall be deemed to be the permanent account number in relation to fringe benefit tax.]

(8) The Board may make rules providing for—

(a) the form and the manner in which an application may be made for the allotment of a permanent account number and the particulars which such application shall contain;

(b) the categories of transactions in relation to which Permanent Account Numbers [or the General Index Register Number] shall be quoted by every person in the documents pertaining to such transactions;

(c) the categories of documents pertaining to business or profession in which such numbers shall be quoted by every person;

[(d) class or classes of persons to whom the provisions of this section shall not apply;

(e) the form and the manner in which the person who has not been allotted a Permanent Account Number or who does not have General Index Register Number shall make his declaration;

(f) the manner in which the Permanent Account Number or the General Index Register Number shall be quoted in respect of the categories of transactions referred to in clause (c);

(g) the time and the manner in which the transactions referred to in clause (c)* shall be intimated to the prescribed authority.]

Explanation.—For the purposes of this section,—

(a) “Assessing Officer” includes an income-tax authority who is assigned the duty of allotting permanent account numbers;

(b) “permanent account number” means a number which the Assessing Officer may allot to any person for the purpose of identification and includes a permanent account number allotted under the new series;

(c) “permanent account number under the new series” means a permanent account number having ten alphanumeric characters and issued in the form of a laminated card;]

[(d) “General Index Register Number” means a number given by an Assessing Officer to an assessee in the General Index Register maintained by him and containing the designation and particulars of the ward or circle or range of the Assessing Officer.]

FORM NO. 49AA

Application for allotment of Permanent Account Number

[Individuals not being a Citizen of India/Entities incorporated outside India/ Unincorporated entities formed in India]

Under section 139A of the Income-tax Act, 1961

To avoid mistake(s), please follow the accompanying instructions and examples before filling up the form

Only ‘Individuals’ to affix recent photograph (3.5 cm X 2.5 cm)

Assessing Officer (AO Code)

Area Code

AO Type

Range Code

AO No.

Signature/Left Thumb Impression

across the photo

Signature/Left Thumb Impression

Sir,

I/We hereby request that a permanent account number be allotted to me/us.

I/We give below the necessary particulars:-

1. Full Name (Full expanded name to be mentioned as appearing in proof of identity/address documents : initials are not permitted)
Please select title,  as applicable	Shri/Mr.		Smt./Mrs.		Kumari/Ms.		M/s

Last Name/Surname

First Name

Middle Name

2. Abbreviation of the above name, as you would like it, to be printed on the PAN card

3. Have you ever been known by any other name? (Please Tick  as applicable)			Yes	No
If yes, please give other name
Please select title,  as applicable	Shri/Mr.	Smt./Mrs.	Kumari/Ms.	M/s

Last Name/Surname

First Name

Middle Name

4. Gender (For Individual Applicants only) (Please Tick as applicable)

Male

Female

5. Date of Birth/Incorporation/Agreement/Partnership or Trust Deed/Formation			–			–
of Body of Individuals/Association of Persons	Day			Month			Year

6. Father’s Name (Only ‘Individual’ applicants : Even married women should fill in father’s name only)

Last Name/Surname

First Name

Middle Name

7. Address

Residential Address

Flat/Room/Door/Block No.

Name of Premises/Building/Village

Road/Street/Lane/Post Office

Area/Locality/Taluka/Sub-Division

Town/City/District

State/Union Territory

Pin code/Zip code

Country Name

Office Address

Name of Office

Flat/Room/Door/Block No.

Name of Premises/Building/Village

Road/Street/Lane/Post Office

Area/Locality/Taluka/Sub-Division

Town/City/District

State/Union Territory

Pin code/Zip code

Country Name

8. Address for communication. (Please Tick as applicable)

Residence

Office

9. Telephone Number and Email ID details

Country code

STD Code

Telephone/Mobile No.

e-mail ID

10. Status of Applicant (Please select  as applicable)

Individual
Hindu Undivided Family
Company
Partnership firm
Association of Persons
Trusts
Body of Individuals
Local Authority
Artificial Juridical Person
Unlimited liability partnership
Government

11. Registration Number (For company, firms, LLPs, etc.)

12. Country of Citizenship

ISD Code of the Country of Citizenship

13. Source of income (Please select  as applicable)

Salary
Capital Gains
Income from Business/ Profession
Business/Profession code		[for Code : Refer Instructions]
Income from other sources
Income from house property
No income

14. Representative or Agent of the Applicant in India

Full name, address of the representative or agentFull Name (Full expanded name : initials are not permitted) Please select title  as applicable Shri/Mr.

Smt./Mrs.

Kumari/Ms.

M/s

Last Name/Surname

First Name

Middle Name

Address

Flat/Room/Door/Block No.

Name of Premises/Building/Village

Road/Street/Lane/Post Office

Area/Locality/Taluka/Sub-Division

Town/City/District

State/Union Territory

Pin code/Zip code

15. Documents submitted as proof of Identity (PO) and Proof of address (POA)

I/We have enclosed
as proof of identity,

as proof of address and
. as mandatory certified documents

[Please refer to the instructions (as specified in Rule 114 of I.T. Rules, 1962) for list of mandatory certified documents to be submitted as applicable]

16. KYC details [To be filled in by Foreign Institutional Investor or a Qualified Foreign Investor, as prescribed under the regulations issued by the Securities and Exchange Board of India (SEBI)]

[“Control” as defined under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997

“Beneficial owner” as defined in the Para 5.1 of SEBI circular dated December 31, 2010 on Anti Money Laundering]

(a) In case of Individuals (Please select  as applicable)

Marital status

Single

Married

Divorced

Widow/Widower

Citizenship Status

Foreigner

Person of Indian origin

Overseas citizen of India

In case of Foreigner, country of Citizenship

Occupation details

Private sector service
Public sector/Govt. service
Business
Professional
Agriculturist
Retired
Housewife
Student
Others

(b) In case of non individuals. (Please select  as applicable)

Private Company	R
Public Company	U
Body Corporate	D
Financial Institution	S
Non Government Organization	N
Charitable Institution	C
(c) Gross Annual Income – INR

Net worth (Assets less liabilities) in INR

(d) In case of a Public Company, whether listed on a stock exchange (Please select  as applicable)

Yes

If yes, then indicate name of the stock exchange

(e) In case of Non individuals

Does it have few persons or persons of the same family holding beneficial ownership and	Yes		No
control.( Please select  as applicable)

[“Control” :Control shall include the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of their shareholding or management rights or shareholders agreements or voting agreements or in any other manner.

“Beneficial owner” means the natural person who ultimately owns or controls the applicant and/or the person on whose behalf a transaction is being conducted, and includes a person who exercises ultimate effective control over a juridical person]

(f) In the entity involved/providing any of the following services ( Please select  as applicable)

Foreign exchange, Money changer Services

Yes

Gaming/Gambling/Lottery services (Casinos and Betting Syndicates)

Yes

Money Lending Pawning

Yes

(g) Whether the applicant or the applicant’s authorized signatories/trustees/office bearers is

(i) a politically exposed person

Yes

(ii) related to a politically exposed person

Yes

[For definition of politically exposed person refer to guidelines issued under the Prevention of Money Laundering Act (PMLA)]

(h) Taxpayer identification Number in the country of residence

17. I/We

, the applicant, in the capacity of

do hereby declare that what is stated above is true to the best of my information and belief

Place:

Date

–

Signature/Left Thumb Impression of Applicant (inside the box)

This movie requires Flash Player 9

TDS Rate on Payments to non-resident sportsmen or sports associations under section 194E of Income Tax Act

September 2, 2012September 2, 2012 admin Leave a comment

TDS Rate of 20% on payment made to a non-resident sportsman (including an athlete) or an entertainer, who is not a citizen of India or a non-resident sports association or institution.

Reference: Section 194E of the Income Tax Act, 1961

Payments to non-resident sportsmen or sports associations

194E. Where any income referred to in section 115BBA is payable to a non-resident sportsman (including an athlete) or an entertainer, who is not a citizen of India or a non-resident sports association or institution, the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of twenty per cent.