Can somebody confirm me what is the effective for the applicability of Tax residency certificate as proposed in the uniaon budget 2012-13 for the purpose of issuing certificate in form 15CB??
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Tax residency certificate
Replies (3)
I believe, all are in the dark on this count.
Though Section 90 & 90A is amended to provide for requirement of Tax Residency Certificate, particulars to be contained in the Certificate are not notified yet.
Also, how do the other contracting state certify the residential status in advance at the beginning of the year? Considering these practical issues, CBDT need to come up with some clarification.
so in that scenario what should we do?? should we ask the client to collect the TRC from the vendors for FY2012-13
Though this is seems to be the ideal solution, if the particulars to be prescribed by the CBDT provides for more details than what is contained in the Certificate, whether benefit will be denied subsequently!!
Am also not sure regarding the procedures which are existing in other States for issue of the Certificate. If it is cumbersome and takes more time, remittances cannot be made in time.
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