W3 Form 3 This Story Behind W3 Form 3 Will Haunt You Forever!
The assets tax administration has accustomed non-resident taxpayers not accepting PAN to book Anatomy 10F manually till March 31, 2023, a move which would affluence their acquiescence accountability and accredit them to affirmation lower TDS rate.
The Central Board of Direct Taxes (CBDT) had in July fabricated it binding for non-resident taxpayers to book Anatomy 10F electronically to affirmation account of lower Tax Deducted at Source (TDS).
W-3 Forms | w4 form 2022However, taxpayers faced problems in cyberbanking filing of the anatomy as the assets tax aperture did not acquiesce a aborigine who does not accept a Permanent Account Cardinal (PAN) to book Anatomy 10F.
In a notification, the CBDT said to abate 18-carat accident to such taxpayers, it has been absitively that such class of non-resident taxpayers who are not accepting PAN and not appropriate to accept PAN as per accordant accoutrement of the I-T Act would be exempted from binding cyberbanking filing of Anatomy 10F till March 31, 2023.
“It is common that such class of taxpayers may accomplish approved acquiescence of filing Anatomy 10F till March 31, 2023 in chiral anatomy as was actuality done above-mentioned to arising of the (July) notification,” the CBDT said in a notification anachronous December 12.
Nangia Andersen LLP M&A Tax Partner Sandeep Jhunjhunwala said sans the notified affairs acute commendation of PAN, non-residents can transact with Indian parties after the abhorrence of a college 20 per cent denial tax amount if assigned capacity such as name, e-mail id, address, acquaintance number, TIN and a accurate tax address affidavit (TRC) are furnished to citizen Indian payer.
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