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Statement for tax deduction on income received from interest, dividends, or any other sum payable to non residents.
- It is applicable for payments made to non-resident Indians and foreigners other than salary.
- It has to be filled in for the declaration of Tax Deducted at source for the NRIs and Foreigners.
- It is submitted on a quarterly basis by the deductor and is applicable for tax deducted at source under section 200(3) of the Income Tax Act of 1961.
- The income on which the tax is deducted at source includes interest, bonus, any additional income or any other sum owed to non-resident Indian or foreigner.
- It is compulsory for non-government deductors to furnish PAN. For government deductors the code “PANNOTREQD”has to be mentioned on the form.