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CBDT relaxes rules for TDS claims by non-resident companies
June, 29th 2016

The Central Board of Direct Taxes (CBDT) has come out with Rule 37BC, which gives relaxation to non-residents from furnishing PAN number in India while claiming TDS benefits.

Non-resident companies can now claim benefits of tax treaty by just providing personal details including, name, address and tax residency certificate, even without providing PAN.

The Central Board of Direct Taxes (CBDT) has come out with Rule 37BC, which gives relaxation to non-residents from furnishing PAN number in India while claiming TDS benefits. Non-residents include foreign partnership, foreign body corporates, besides foreign companies.

It said in the absence of PAN, a non-resident can now provide the prescribed information and will not be subject to higher rate of withholding tax on payments made by Indian companies for interest, royalty, fees for technical services.

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