Unlock value of Tax Residency Certificate (TRC) in non-resident payments. Explore its crucial role in efficient and compliant cross-border transactions.
Answer:
S. 90(4) – NR cannot avail benefit under Treaty without Tax Residency Certificate (TRC).
S. 90(5) – The assessee has to provide such other details as may be prescribed.
Rule 21AB – specifies the information to be provided in Form 10F – if the same are not covered in the TRC. So, TRC and Form 10F go together. Form 10F alone not enough.
Answer:
If special conditions are specifying contrary in DTA – like Beneficial ownership, Limitation of Benefits clause – TRC is not enough.
Answer:
Practical decision can be taken based on past facts after due diligence. Once the TRC is obtained, the treaty benefit would be available for the whole year.
Answer:
The remitter can only rely on the TRC for the period during which the income is earned.
Answer:
As DTAA provisions are not exercised, provisions of Sections 90(4), 90(5) and the relevant rules will also not be applicable.
Find out the common issues for foreign businesses related to liaison offices in India, focusing on FEMA, GST, and Income Tax Act compliance requirements.
Setting up a liaison office in India? Ensure compliance under FEMA, GST, and Income Tax regulations. Get expert guidance for a smooth business in India.
Receiving money from abroad? Learn about the TDS rates on foreign remittance, and how it affects cross-border transactions. Manage your finances today!
