In essence, the No. 49C form serves as a vital instrument for non-resident entities operating within the borders of India, primarily through Liaison Offices (LOs), to comply with the mandates of the Income Tax Act, 1961 under section 285. The form requires a comprehensive disclosure of financial activities and operations conducted by these entities or individuals in India for a specific financial year. This includes, but is not limited to, the primary identification details such as the Name and Principal Address in India, Head Office Address, as well as fiscal identifiers like Permanent Account Number (PAN) and Tax Identification Number (TIN) of the concerned non-resident. Moreover, the document delves into specifics, demanding details about the Liaison Office's registration number as granted by the Reserve Bank of India (RBI), the nature of activities undertaken, relevant dates marking the opening and RBI approval for the LO, and a breakdown of financial transactions involving purchases, sales of materials, and provision of services with Indian parties. Additionally, the form seeks information regarding the employment structure within the LO, including particulars of employees earning above a certain threshold, and detailed addresses of agents, representatives, and distributors operating on behalf of the non-resident entity in India. Further, it extends to encapsulate the nuances of liaison activities, detailing the products or services involved, and outlining the involvement of other group entities and their operations within India. Essentially, Form No. 49C stands as a comprehensive document, ensuring that non-resident entities transparently declare their financial footprints and activities in India, thereby facilitating regulatory oversight and adherence to the nation’s tax statutes.
| Question | Answer |
|---|---|
| Form Name | Form No 49C |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | ITR62, form 49c, liaisoning, RBI |
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FORM NO. 49C |
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[See rule 114DA] |
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ANNUAL STATEMENT UNDER SECTION 285 OF THE |
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No. |
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1 |
Financial Year for which the Statement is being submitted |
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2 |
Name and Principal Address of the |
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3 |
Head Office Address of the |
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Permanent Account Number (if Allotted) |
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Tax Identification No., if any, of country of Incorporation or |
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residence |
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Liaison Office (L.O.) Registration No. granted by RBI |
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7 |
Nature of activities undertaken by L.O. |
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8 |
Date of opening of L.O. in India |
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9 |
Date of RBI approval for L.O. opening |
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10 |
Address of L.O./L.O.s in India |
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Date of submitting Annual Activity Certificate (AAC) for the |
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Financial Year to RBI |
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12 |
Name, address and Membership No. of the Chartered Accountant |
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signing the Annual Activity Certificate (AAC) as prescribed by |
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RBI |
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India specific financial details for the financial year i.e., receipts, |
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income and expenses of the |
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(not only of the L.O.) |
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14 |
Details of all purchases, sales of material, and services from/to |
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Indian parties during the year by the |
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limited to transactions made by L.O.) |
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15 |
Name & Designation of Officer In charge for each Office of the |
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16 |
Details of any salary or compensation of any sort payable outside |
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India to any employee working in India or for services rendered |
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in India |
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17 |
Total Number of employees working in the LO/L.O.s during the |
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year. Particulars of employees drawing salary of Rs. 50,000 or |
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above per month specifying their Name Designation and sitting |
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location |
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18 |
Details (with complete addresses Including PAN) of |
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agents/representative/distributors of the |
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India. |
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Names & addresses of the top five parties in India with whom the |
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L.O. has been doing the liaisoning |
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20 |
Details of Products or services for which liaisoning activity is |
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done by the L.O. |
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21 |
Details of any other entity (including PAN, if any) for which |
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liaisoning activity is done by the L.O. |
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22 |
Details of Group entities (with addresses and PAN, if any) |
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present in India as Branch Office/Companies/LLPs etc., |
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incorporated in India and nature their business activities. |
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23 |
Details (with addresses) of other L.O.s of the Group entities in |
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[ITR62;49C,1]
Printed from
India
24Other Group entities operating from the same premises as the office of the L.O.
VERIFICATION
I, ……… [full name in block letters] …………………… son/daughter of …………………………………… holding Permanent
Account Number ……………………………………… solemnly declare that to the best of my knowledge and belief, the
information given in the form is correct and complete and that the other particulars shown therein are truly stated. I further declare that I am submitting this form in my capacity as ………………….…… and I am also competent to make this submission and
verify it.
Verified today the ………………………… day of ……………………….…
PLACE
Signature of Authorised Signatory
Name …………………………..…
[ITR62;49C,1]
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