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Income Tax Dept Exempts Non-Resident Taxpayers From Filing Form10F For Now
December, 14th 2022

Providing partial relief to non-resident taxpayers, the Central Board of Direct Taxes (CBDT) has exempted non-resident taxpayers who do not have a PAN from mandatory electronic filing of Form 10F until March 2023. The filing of this form is needed in order to avail of Double Taxation Avoidance Agreements (DTAA) benefits.

A non-resident taxpayer needs to provide a tax residency certificate (TRC) to avail DTAA benefits. However, if certain prescribed details are not available in the TRC, NR taxpayers are required to furnish additional documents and information in Form 10F. The Form 10F is signed physically by non-resident taxpayers and furnished along with the tax residency certificate to resident payers for the purpose of determining withholding tax implications.

“With a view to mitigate genuine hardship to such taxpayers, it has been decided by the competent authority that such category of non-resident taxpayers who are not having a PAN and not required to have a PAN as per relevant provisions of the Income-tax Act, 1961, read are exempted from mandatory electronic filing of form until March 31, 2023," CBDT said in a notification on Tuesday.

The government had in July mandated furnishing of Form 10F electronically, which required the non-resident to get PAN.

The finance ministry on Wednesday said a new payment system TIN 2.0 was launched on the e-filing portal on July 1, 2022. Over 10 banks are currently live on e-filing portal for e-pay tax services. 17,06,007 challans involving Rs. 45,357.57 crore received till November 30, 2022, on TIN 2.0.

Meanwhile, net direct tax collections in India jumped 24.26 per cent year-on-year (YoY) to Rs 8.77 lakh crore till November 11 in the current financial year 2022-23. This is 61.79 per cent of the total budget estimate of direct taxes for FY23.

“Steady growth in Direct Tax collections! Net collection in FY 2022-23 is 24.26 per cent higher than the net collection for the corresponding period of the preceding year. 61.79 per cent of Budget Estimates for FY 2022-23 already achieved," the finance ministry said in a tweet on Monday.

The ministry also said that refunds amounting to about Rs 2.15 lakh crore have been issued between April 1 and November 1 this year, which is about 66.92 per cent higher than refunds during the same period in the preceding year.

“Speedy issue of Refunds! 66.92 per cent higher refunds issued upto 30th Nov., 2022 during FY 2022-23 compared to the corresponding period in 2021. Refunds amounting to Rs 2.15 lakh crore issued between 1st April, 2022 to 30th November, 2022," the finance ministry said in another tweet.

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