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TRC and Form 10F - 1

Posted @ November 2, 2015, 4:13 am under (International Taxation Services)

Mandatory submission of Tax Residency Certificate 
Section 90(4) of the Income Tax Act makes submission of Tax Residency Certificate mandatory condition for availing benefit of DTAA. It is therefore required to obtain Tax Residency Certificate from the Foreign party in order to avail benefits of lower with holding tax as per DTAA. 
Self Certified Form 10F - for purposes of claiming the benefits of a tax treaty
Finance Act, 2013, has further amended Section 90 by prescribing self certified Form 10F in addition to tax residency certificate, containing certain information in order to be valid for purposes of claiming the benefits of a tax treaty. Form 10F may be submitted by a nonresident to an Indian payer when claiming Treaty benefits.
Section 90 [(4): An assessee, not being a resident, to whom an agreement referred to in sub-section (1) applies, shall not be entitled to claim any relief under such agreement unless [a certificate of his being a resident] in any country outside India or specified territory outside India, as the case may be, is obtained by him from the Government of that country or specified territory.
Section 90(5) The assessee referred to in sub-section (4) shall also provide such other documents and information, as may be prescribed.

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