The CBDT through notification no. G.S.R. 634(E) dated 17 August,2022 has amended Income Tax Rules, 1962. As per the notification, a non-resident is required to file Form 29D to claim refund. Read on to know more.
Section 195
As per section 195, any person responsible for making payment to a non resident other than a company or foreign company shall at the time of making such payment shall deduct tax at source.
Section 239A
As per section 239A of the Income Tax Act, 1961, a taxpayer on whose income (other than interest income) tax was dedicated under section 195 as per an agreement or other arrangement, claims that no tax was required to be deducted, can file an application in order to claim the refund of such tax deducted in the prescribed form within 30 days from the date of payment of tax.
On receipt of such application, the assessing officer, before passing an order shall make such enquiry as he considers necessary. If he is not satisfied with the application filed, the assessing officer can also reject the application. However, before canceling the application filed, an opportunity of being heard shall be given to the taxpayer.
The order shall be passed within 6 months from the end of the month in which the application was filed.
Rule 40G
Rule 40G prescribes Form 29D in order to claim refund under section 239A
Form 29D
The content of Form 29D is provided below-
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Details of applicant |
(a) Status (State whether individual, Hindu Undivided Family, Firm, Body of Individuals, Company etc.) |
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(b) Residential status (Resident/ Resident but not ordinarily resident/ Non- resident during the relevant year) |
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(c) Permanent Account Number or Aadhaar Number |
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(d) E-mail ID |
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(e) Mobile Number |
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Details of the deductee |
(a) Name |
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(b) Status (State whether individual, LLP, Firm, Body of Individuals, Company etc.) |
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(c) Permanent Account Number (if available) |
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(d) E-mail ID |
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(e) Mobile Number |
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(f) Country of which the deductee was a resident in the relevant Assessment Year |
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Details of agreement or other arrangement (Please attach a copy of the same with this application) |
(a) Date of signing the agreement or other arrangement |
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(b) Date on which the agreement or other arrangement came into effect |
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(c) Time Period for which the agreement or other arrangement is effective |
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Details of transaction on which tax not deductible has been deducted |
(a) Amount of transaction (in INR) |
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(b) Date of transaction |
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(c) Date of payment made |
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(d) Mode of payment (Please attach a copy of proof of payment) |
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(e) Nature of transaction |
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Details of tax deducted on transaction specified in point (iv) above |
(a) Amount of tax deducted (in INR) |
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(b) Date of tax deduction |
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(c) Date on which the tax deducted was deposited in Government Account |
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(d) Details of challan |
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S.No. |
BSR Code |
Date of deposit in Government Account |
Serial number of challan |
Amount (Rs.) |
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Please explain why no tax was required to be deducted on the income in the relevant transaction |
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Please state whether tax deducted on similar transaction has been refunded in 3 years prior to the relevant previous year? (If yes, please give the following details) |
(a) Relevant Assessment Year |
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(b) Date of transaction |
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(c) Amount of tax deducted |
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(d) Amount of tax refunded |
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(e) Date of order of Commissioner (Appeals) or the Assessing Officer, as the case may be (Please attach copy of order with this form) |
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Please specify other relevant details (if any) |
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I,............................................, son/ daughter of.............................................. do hereby declare that to the best of my knowledge and belief what is stated above is correct, complete and truly stated. I declare that no tax was required to be deducted on the income referred to in this form. I further declare that what is stated in this application is correct. I also declare that I am making this application in my capacity as ............................ and I am also competent to make this application and verify it. I am holding Permanent Account Number or Aadhaar Number .....................................
Date:
Signature:
Place:
Address: .".
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