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[Cites 0, Cited by 0] [Section 37BB] [Entire Act]

Union of India - Subsection

Section 37BB(3) in Income Tax Rules, 1962

(3)Notwithstanding anything contained in sub-rule (2), no information is required to be furnished for any sum which is not chargeable under the provisions of the Act, if,-
(i)the remittance is made by an individual and it does not require prior approval of Reserve Bank of India as per the provisions of section 5 of the Foreign Exchange Management Act, 1999 (42 of 1999) read with Schedule III to the Foreign Exchange (Current Account Transaction) Rules, 2000; or
(ii)the remittance is of the nature specified in column (3) of the specified list below:
Specified List
Sl. No. Purpose code as per RBI Nature of payment
(1) (2) (3)
1 S000. Indian investment abroa. - in equity capital(shares)
2 S000. Indian investment abroa. - in debt securities
3 S000. Indian investment abroa. - in branches andwholly owned subsidiaries
4 S000. Indian investment abroa. - in subsidiaries andassociates
5 S000. Indian investment abroa. - in real estate
6 S0011 Loans extended to Non-Residents
7 S0101 Advance payment against imports
8 S010. Payment towards import. - settlement of invoice
9 S0103 Imports by diplomatic missions
10 S0104 Intermediary trade
11 S019. Imports below Rs.5,00,00. - (For use by ECDoffices)
12 SO202 Payment for operating expenses of Indianshipping companies operating abroad
13 SO208 Operating expenses of Indian Airlines companiesoperating abroad
14 S021. Booking of passages abroa. - Airlines companies
15 S0301 Remittance towards business travel
16 S0302 Travel under basic travel quota (BTQ)
17 S0303 Travel for pilgrimage
18 S0304 Travel for medical treatment
19 S0305 Travel for education (including fees, hostelexpenses etc.)
20 S0401 Postal services
21 S0501 Construction of projects abroad by Indiancompanies including import of goods at project site
22 S060. Freight insuranc. - relating to import andexport of goods
23 S1011 Payments for maintenance of offices abroad
24 S1201 Maintenance of Indian embassies abroad
25 S1202 Remittances by foreign embassies in India
26 S1301 Remittance by non-residents towards familymaintenance and savings
27 S1302 Remittance towards personal gifts and donations
28 S1303 Remittance towards donations to religious andcharitable institutions abroad
29 S1304 Remittance towards grants and donations to otherGovernments and charitable institutions established by theGovernments
30 S1305 Contributions or donations by the Government tointernational institutions
31 S1306 Remittance towards payment or refund of taxes
32 S1501 Refunds or rebates or reduction in invoice valueon account of exports
33 S1503 Payments by residents for international bidding.