The CBDT has inserted a new rule 29BA and Form no. 15E to operationalise the provisions of section 195(2). Section 195(2) was amended by the Finance (no. 2) Act, 2019 to empower the board to prescribe the form and manner of filing the application to determine the appropriate proportion of such sum so chargeable and upon determination tax to be deducted as per section 195 on that proportion only.The CBDT has inserted a new rule 29BA and Form no. 15E to operationalise the provisions of section 195(2). Section 195(2) was amended by the Finance (no. 2) Act, 2019 to empower the board to prescribe the form and manner of filing the application to determine the appropriate proportion of such sum so chargeable and upon determination tax to be deducted as per section 195 on that proportion only.taxmann.com Latest Statutory HappeningsRead More
