Manual reporting of overseas remittances allowed till mid-July
Premium- Earlier, CBDT had given this flexibility till end of June, which has now been extended by another fortnight
New Delhi: The Central Board of Direct Taxes (CBDT) on Monday allowed taxpayers making overseas remittances to report the same manually till 15 July owing to difficulties in submission of forms in the revamped portal of the income tax department.
Earlier, CBDT had given this flexibility till end of June, which has now been extended by another fortnight. An official statement from CBDT said that authorized dealers are advised to accept such forms till 15 July for the purpose of foreign remittances.
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A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of raising document Identification Number, CBDT said.
Since non-residents’ income sourced from India is taxable, those who make the remittance from India are required to report the transactions under the Income Tax Act. This filing requirement -- a declaration by the payer and a certificate from chartered accountant where needed -- are to be done on the e-filing portal of the tax department before submitting the copy to the authorized dealer for any foreign remittance.
The new e-filing portal was launched in June but many people took to social media to complain about not being able to reach the site. Finance minister Nirmala Sitharaman called a meeting of stakeholders and Infosys, the developer of the project, on 22 June to enable fixing of glitches at the earliest.
Infosys chief operating officer and whole-time director UB Pravin Rao had told shareholders at the company’s 40th annual general meeting last month that the company was working to resolve the concerns that users have noticed while using the portal-- www.incometax.gov.in. The portal, once fully functional, is expected to offer several tax-payer-friendly features including immediate processing of tax returns for quick issue of refunds.
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