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Sec 195(6) Read with New Rule 37BB

This query is : Resolved 
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(Querist)
30 June 2009 Dear Sir,

Please advise whether the new rule 37BB on remitances to non-residents cover payments for import of goods (raw materials, machinery etc.) even though Sec 195 doenot require to deduct tax from such payments ?

This is really urgent as the new rule comes into effect w.e.f 01.07.2009

Thanks/Regards
G. Sharma
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Venkat Rao Marella

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Venkat Rao Marella (Expert)
01 July 2009 You need to check the applicability of DTAA with the corresponding country from where the imports were made..
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