Taxation of Non Resident – Relaxation from deduction of tax at higher rate under section 206AA.

CBDT

 

Taxation of Non Resident – Relaxation from deduction of tax at higher rate under section 206AA.

37BC. (1) In the case of a non-resident, not being a company, or a foreign company (hereafter referred to as ‘deductee’) and not having permanent account number the provisions of section 206AA shall not apply in respect of payments in the nature of interest, royalty, fees for technical services and payments on transfer of any capital asset, if the deductee furnishes the details and the documents specified in sub-rule (2) to the deductor.

(2) The deductee referred to in sub-rule (1), shall in respect of payments specified therein, furnish the following details and documents to the deductor, namely:—

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