Form 10F- latest amendment

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Sonnal Khandaray (Querist)
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08 August 2022 Hi All

Whether form 10F is mandatory for making foreign payments?

Is there any latest notification on the same?

Thanks in advance.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 August 2022 As per section 90(4), of Income Tax Act a non resident will be entitled to claimed benefits of Double Taxation Avoidance Agreement (DTAA) Treaties unless he obtained TRC from the Govt of his residence country. TRC should include following details to claimed benefit as per Indian Tax law:
1) Status (Individual, company etc) of the assessee
2) Nationality
3) Assesee tax identification number (TIN) in the country of residence (unique no. in absence of TIN )
4) Period for which residence status is applicable
5) Address of assessee in the country if TRC doesn't contained any one of the above details, then Form 10 applicability arise.
Form 10F is a self declaration by the assessee containing above details.
As per latest amendment, it is to be filed electronically.

For more details refer::
https://www.ey.com/en_gl/tax-alerts/indian-tax-administration-mandates-nonresident-taxpayers-to-furnish-information-electronically-to-avail-double-taxation-avoidance-agreements-benefits