Form 15C Amended – TDS on Payments to Non Residents

Form 15C for application by banking company or insurer for certificate u/s 195 of Income tax Act for receipt of interest without TDS.

Sub-section (3) of Section 195: Subject to rules made under sub-section (5), any person entitled to receive any interest or other sum on which income-tax has to be deducted under sub-section (1) may make an application in the prescribed form to the Assessing Officer for the grant of a certificate authorising him to receive such interest or other sum without deduction of tax under that sub-section, and where any such certificate is granted, every person responsible for paying such interest or other sum to the person to whom such certificate is granted shall, so long as the certificate is in force, make payment of such interest or other sum without deducting tax thereon under sub-section (1).

Form No. 15C (See rule 29B) is prescribed for application by a banking company or insurer for a certificate under section 195(3) of the Income – tax Act, 1961, for receipt of interest and other sums without deduction of tax.

FORM NO 15C
[See rule 29B]

Application by a banking company or insurer for a certificate under section 195(3) of the Income – tax Act, 1961, for receipt of interest and other sums without deduction of tax.

To
The Assessing Officer,

Sir,

I, ___, being the principal officer of _____ [name of the banking company or insurer] hereby declare:

(a) that ______________is a banking company/insurer which is neither an Indian company nor a company which has made the prescribe d arrangements for the declaration and payment of dividends within India and which is operating in India through a branch(es) at_________________;

(b) that the head office of the said company or insurer is situated at ___ name of the place and country;

(c) that the said company or insurer is entitled to receive interest (other than ‘Interest on securities’) and other sums not being dividends, chargeable under the provisions of the Income -tax Act, 1961, during the financial year;

(d) that the company fulfills all the conditions laid down in rule 29B of the Income-tax Rules, 1962.

I, therefore, request that a certificate may be issued authorising the said company/insurer to receive interest other than interest on securities (other than interest payable on securities referred to in proviso to section 193) and other sums not being dividends, without deduction of tax under sub-section (1) of section 195 of the Income-tax Act, 1961, during the financial year _. I hereby declare that what is stated in this application is correct.

Signature

Date _____________

Address ________.

Form No. 15C was substituted vide Notification No. 75/2020 dated 22-09-2020.


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