CBDT Amends Rule 114DA; Prescribe Due Date for Furnishing of Statement by NR Having Liaison Office in India
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- Last Updated on 12 February, 2025
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Notification no. 14/2025, dated 07-02-2025
As per Section 285 of the Income Tax Act, 1961, every non-resident with a liaison office in India, established under RBI guidelines issued under the Foreign Exchange Management Act, 1999, is required to prepare and submit a statement to the Jurisdictional Assessing Officer for each financial year.
Such statement is furnished in Form 49C which Rule 114DA prescribes.
As per Rule 114DA, non-resident entities are required to file an annual statement in Form No. 49C under Section 285 for each financial year. The due date for furnishing Form 49C was sixty days from the end of such financial year under Section 285. However, the Finance (No. 2) Act, 2024 has replaced this due date with ‘such period’ as may be prescribed by the Board.
To implement the amendment, the Central Board of Direct Taxes (CBDT) has amended Rule 114DA to prescribe the due date. The Board has amended Rule 114DA to specify that the due date for filing Form 49C shall be 8 months from the end of the financial year
The Board has also revised the particulars of Form 49C, with some of the key changes outlined below.
- A liaison office, agents, representatives, distributors of a non-resident entity in India, or any entity for which the liaison office carries out liaisoning activities is required to mention only the PAN in the form. Previously, they had the option to provide an Aadhaar number as well.
- The “Details of other entities” section, referring to entities for which the liaison office conducts liaisoning activities, now include the entity’s name, email ID, contact/mobile number, and the nature of activities undertaken.
- For employees with a monthly salary of Rs. 50,000 or more, reporting of PAN (if allotted), email ID, contact number, and salary amount is now mandatory.
Click Here To Read The Full Notification
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