Summary of Notification No 31/2018

The Central Board of Direct Taxes (CBDT) has released final notification amending Rule 44E of the Income-tax Rules, 1962 and Form 34C, 34D, 34DA as per Base Erosion and Profit Shifting (BEPS) Action 5. The new Forms 34C & 34D seek unique number used for identification of non-resident.

Notification No 31/2018

[Notification No. 31/2018/F.No. 370142/34/2016-TPL(Part)]

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 13th July, 2018
Income-Tax

G.S.R. 647(E).―In exercise of the powers conferred by section 295 read with sub-section (1) of section 245Q
of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:―
1. Short title and commencement.―(1) These rules may be called the Income-tax (7th Amendment) Rules, 2018.
(2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962,―
(A) in rule 44E, in sub-rule (1),―
(i) in clause (c), for the words, brackets and letters “sub-clause (iia) of clause (b)”, the words, brackets and
letters “item (III) of sub-clause (A) of clause (b)” shall be substituted;

(ii) in clause (d), for the words, brackets and letter “sub-clause (iii) of clause (b)”, the words, brackets and
letters “item (IV) of sub-clause (A) of clause (b)” shall be substituted;
(iii) in clause (e), for the words, brackets and letters “sub-clause (iiia) of clause (b)”, the words, brackets and
letters “item (V) of sub-clause (A) of clause (b)” shall be substituted;

(B) in the Appendix II, ―
(i) in Form 34C, ―
(a) in the heading, for the words “Form of application”, the words “Form of application by a nonresident
applicant” shall be substituted;
(b) after item 13, the following items shall be inserted, namely:―
“14. Taxpayer Registration Number/Taxpayer Identification Number/Functional equivalent/ Any unique number used for identification by the Government of that country/specified territory of which applicant claims to be a resident

Download Complete Notification No 31/2018