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Procedure for all remittances to non-residents w.e.f. 1-Jul-09
Section 195 of the Income-tax Act, 1961 mandates deduction of income tax from payments made or credit given to non-residents at the rates in force. For any remittance to non-resident, except in the case of certain personal remittances which have been specifically exempted by RBI, the following revised procedure will be required before remittance: The person making [...]
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When the FM presents his full Budget on 6th July `09, his priorities will be clear – Bridge the fiscal deficit Garner funding for infrastructure Put economy back on high growth trajectory Promote Equitable Growth Inflation - Even as WPI falls, consumer price index is very high Need for simplified, revised income-tax regulations Here is a [...]
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