Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: list of goods taxed at 4% :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: cpt :: TDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: form 3cd
 
 
Direct Tax »
 Explanatory Notes to the Provisions of the Finance Act, 2017
 Here’s how you should approach tax planning
 Long Term Capital Gain under Finance Bill 2018
 Awareness drive on income tax returns filing
  Income Tax raid cases not to be processed under e-assessment: CBDT
 Income Tax raid cases not to be processed under e-assessment: CBDT
 CBDT chief to discuss revenue mobilisation with officers
 Income tax arises in the year of accrual or receipt of income
 How new LTCG tax with STT violates three basic principles of taxation
 Exemption Under Section 10(10b) Of Income Tax Act, 1961
 CBDT enters into seven advance pricing pacts in January

CBDT Notifies Revised TRC Format
August, 16th 2013

A provision was recently introduced in the Indian Tax Laws (ITL) which required a nonresident (NR) taxpayer to provide such other documents and information, as may be prescribed, in addition to obtaining a certificate of it being a resident of a country viz., a Tax Residency Certificate (TRC). This was required for the taxpayer to be entitled to claim relief under the Double Taxation Avoidance Agreement (DTAA) that India would have entered into with such country or territory. Pursuant to the above, the Central Board of Direct Taxes (CBDT) has issued Notification No. 57 of 2013 dated 1 August 2013 (Notification) prescribing the information to be provided. This Notification is deemed to have come into force from 1 April 2013. This Tax Alert summarizes the key contents of the Notification.

The information sought under the Notification, to a large extent, is comparable with the particulars which were required to be included in the TRC under the erstwhile provision before the FA 2013 amendment. On account of the FA 2013 amendment, the condition of the prescribed particulars to be a part of the TRC was omitted and required a taxpayer to provide such other documents and information, as may be prescribed. The Notification requires self-provision of details as part of self-declaration only to the extent that the same are not part of the TRC procured. The Notification additionally requires the taxpayer to keep and maintain such documents as are necessary to substantiate the information provided. Taxpayers seeking to claim relief under a DTAA would need to comply with the requirements of the Notification. The requirement of procuring the TRC and providing the prescribed documents and information apply from tax year 2012-13 while the Notification has been made effective from 1 April 2013 (i.e., the first day of assessment year 2013-14 relevant to tax year 2012-13). Issues could arise as to the date from which the compliance would be warranted in terms of the Notification, although, in the context of the provisions, compliance, effective from tax year 2012-13, appears to be in line with legislative intent and is also advisable.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions