E-FILING OF FORM-1 NOT MANDATORY FOR AGENTS TO NRIs
It has been decided by the Board that it will not be mandatory for agents of Non-Resident Indians (NRI), within the meaning of section 160(1)(a) of the Income-tax Act, to electronically furnish
the returns of non-residents corporates in Form No. 1 for assessment year 2006-07. This is because of the reason that there may be more than one agent for a NRI for different transaction. Such situations
are not covered by the existing software which functions on the principle of one assessee- one PAN - one return.
the returns of non-residents corporates in Form No. 1 for assessment year 2006-07. This is because of the reason that there may be more than one agent for a NRI for different transaction. Such situations
are not covered by the existing software which functions on the principle of one assessee- one PAN - one return.
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