Government Extends Date For Filing Tax Return On Foreign Payments

INSUBCONTINENT EXCLUSIVE:
Government has extended the date for filing tax forms on foreign remittancesThe Central Board of Direct Taxes (CBDT) has extended the last
date for filing of income tax payments deductions for non resident Indians (NRIs) as well as other non residents, till July 15, 2021
faced by taxpayers while filing of Income tax forms 15 CA and 15 CB on the new e-filing portal of the income tax department, the Finance
Ministry said in a statement
Earlier the process was to be completed by June 30, 2021."In view of the difficulties reported by taxpayers in electronic filing of Income
ministry's statement said.The department has said that taxpayers can now submit the two forms in manual format to the authorised dealers,
facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generating the Document
Identification Number of DIN.Form 15CA and Form 15CB are needed to be furnished for foreign remittances or payment to non-residents.Whenever
the remittance is done by a bank on behalf of its customer, it is not possible for a bank to ascertain whether tax has been duly deducted or
not
To check the compliance, Form 15CA and a certificate of a Chartered Accountant in Form 15CB is to be furnished which enables a bank to remit
the amount abroad.