Summary
- The Income-tax Department has introduced Form No. 146, an Accountant’s certificate required under Section 393 of the Income-tax Act, 2025 for foreign remittances exceeding ₹5 lakh.
- Chartered Accountants must file this form before remittance, certifying taxability based on domestic law and Double Taxation Avoidance Agreements.
- Failure to comply with certification requirements can lead to penalties of up to ₹10,000 per incorrect certificate under Section 463.
- This new form streamlines tax compliance for foreign remittances and enhances transparency through the mandatory Unique Document Identification Number (UDIN).
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