Certification requirements u/s 195 in the light of the amendments by the Finance Act, 2015
– By CA Puja Borar
the provisions of sub-section (6) of section 195 of the Act have been amended vide the Finance Act, 2015 w.e.f 1st April, 2016 (i.e. AY 2016-17) to provide that the person responsible for paying any sum, whether chargeable to tax or not, to a non-resident, not being a company, or to a foreign company, shall be required to furnish the information of the prescribed sum in such form and manner as may be prescribed. The certification requirements in respect thereof have been discussed herein.