The Public Provident Fund (PPF) is a popular long-term savings scheme in India, known for its attractive interest rates and tax benefits. Many Non-Resident Indians (NRIs) wonder if they can invest in PPF, especially if they had accounts before their status changed. This article will clarify the rules governing PPF for NRIs and provide insights into how they can manage their investments.

Eligibility for NRIs to Invest in PPF

1. Existing Accounts Only: NRIs cannot open new PPF accounts after becoming non-residents. However, if an account was opened while they were resident Indians, they can continue to hold and contribute to that account until its maturity.
2. Investment Limitations: NRIs can contribute up to ₹1.5 lakhs annually to their existing PPF accounts. These contributions are non-repatriable until the account matures.

Key Rules and Regulations

• Interest Rate Changes: Following the 2017 amendment, the interest rate for NRIs on their PPF accounts is adjusted to the rate applicable to Post Office Savings Accounts, which is currently lower than the standard PPF interest rate. This change can significantly affect the returns on their investments.
• Maturity and Withdrawals: The maturity period for a PPF account is 15 years. NRIs must close their accounts upon maturity, and they cannot extend the account beyond this period. Full withdrawals are allowed only at maturity, while partial withdrawals can be made after the seventh year.
• Tax Implications: The interest earned on PPF accounts is tax-free in India, and contributions qualify for tax deductions under Section 80C. However, NRIs should consult tax regulations in their country of residence, as the interest might be taxable there.

Managing Your PPF Account as an NRI

For NRIs with existing PPF accounts, here are some important considerations:

• Online Management: NRIs can manage their PPF accounts online, making it easier to track investments and contributions from abroad.
• Repatriation Rules: Upon maturity, NRIs can repatriate the full amount in their PPF accounts. However, partial withdrawals made before maturity cannot be repatriated.
• Closure of Account: Once the PPF account matures, NRIs must close it and transfer the funds to their NRO accounts. Failure to comply with this rule can result in the loss of interest on contributions made after maturity.

Alternatives to PPF for NRIs

If NRIs are looking for other investment options in India, they can consider:

• NRI Fixed Deposits: Available in NRE, FCNR, or NRO accounts, offering attractive interest rates.
• Mutual Funds: Both equity and debt mutual funds provide diverse investment opportunities.
• National Pension Scheme (NPS): A retirement-focused investment option with tax benefits.
• Real Estate Investments: A tangible asset that can provide rental income and capital appreciation.

Conclusion

In summary, while NRIs cannot open new PPF accounts, they can continue to manage existing accounts opened while they were residents. The PPF remains a viable investment option for NRIs, offering tax-free interest and a safe avenue for long-term savings. However, it’s crucial to stay informed about the rules and regulations governing PPF accounts and consult with financial advisors to navigate the complexities of investing as an NRI. By understanding these aspects, NRIs can make informed decisions and secure their financial future effectively.

Volume divergence is a crucial concept in technical analysis that offers valuable insights into market sentiment and potential price movements. By analyzing the relationship between price action and trading volume, traders can better understand the strength or weakness behind price trends. Let’s explore four key scenarios of volume divergence and their potential implications.

Volume Divergence Scenarios: A Quick Overview

Key Points to Remember

1. Falling Price, Falling Volume:
   • Few sellers in the market
   • Potential for price reversal upwards
2. Falling Price, Rising Volume:
   • Many sellers in the market
   • Downward trend likely to continue
3. Rising Price, Rising Volume:
   • Many buyers in the market
   • Upward trend likely to continue
4. Rising Price, Falling Volume:
   • Few buyers in the market
   • Potential for price reversal downwards

Detailed Analysis of Volume Divergence Scenarios

1. Price Dropping, Volume Dropping

When both price and volume are decreasing, it suggests a lack of selling interest in the market. This scenario often indicates that sellers are becoming exhausted or that current price levels aren’t attractive enough for new sellers. As a result, the price may be poised for an upward reversal. Any increase in buying interest could potentially push the price higher, as there’s less selling pressure to overcome.

2. Price Decreasing, Volume Increasing

In this case, falling prices accompanied by rising volume typically signal strong selling pressure. More traders are actively participating in the downward move, validating the current downtrend. This combination often suggests that the price decline may continue, as there’s significant momentum behind the selling activity. Traders should be cautious of further price drops in this scenario.

3. Price Rising, Volume Rising

When both price and volume are increasing, it indicates strong buying interest in the market. This scenario suggests that more traders are participating in and confirming the upward move. The rising volume provides validation for the price increase, implying that the upward trend may continue. This is often considered a bullish signal by traders and can be a sign of a healthy, sustainable uptrend.

4. Price Rising, Volume Decreasing

This scenario presents rising prices coupled with declining trading volume. It suggests that fewer traders are participating in the upward move, which may indicate waning buying interest. This divergence between price and volume might signal a potential downward reversal. As buying pressure diminishes, the upward trend may lose steam and possibly reverse. Traders should be cautious of a potential price drop in this situation.

Important Considerations for Traders

• Volume divergence is a tool to gauge market sentiment
• It should be used in conjunction with other analysis methods
• No single indicator can predict market movements with certainty

By understanding and applying volume divergence analysis, traders can enhance their ability to interpret market trends and make more informed trading decisions.

Disclaimer: This article is for educational purposes only and does not constitute financial advice. Trading in financial markets carries risk, and past performance is not indicative of future results. Always conduct your own research and consider seeking advice from a qualified financial professional before making any investment decisions. The concepts discussed here are tools for analysis and do not guarantee any specific market outcomes.

Filing your Income Tax Return (ITR) is crucial for taxpayers who have overpaid taxes or had excess Tax Deducted at Source (TDS). However, even after successfully filing your ITR, you might find your tax refund hasn’t been credited to your bank account. Let’s explore the common reasons behind this issue and how to resolve them.

The Critical Step: Pre-validating Your Bank Account

Since March 1, 2019, the Income Tax Department has mandated that refunds are transferred electronically only to pre-validated bank accounts linked to the taxpayer’s Permanent Account Number (PAN).

How to Pre-validate Your Bank Account

1. Log into the e-filing portal using your PAN or Aadhaar
2. Navigate to ‘My Profile’ and select ‘My Bank Account’
3. Click on ‘Add Bank Account’ and enter the required details
4. Click on ‘Validate’ to submit your request
5. Check the status under the ‘Added Bank Accounts’ tab

If validation fails, you’ll need to rectify the issues before proceeding.

5 Common Issues Preventing Your Tax Refund

1. Name Mismatch

A discrepancy between the name on your PAN and bank account can halt your refund. Ensure consistency by updating either your PAN details or bank account name.

2. Bank Account Not Pre-validated

Refunds can’t be credited to accounts that aren’t pre-validated. Make sure your account is validated and nominated for refunds on the e-filing portal.

3. Changes in Bank Details

Any changes in your bank account details require revalidation on the e-filing portal. Keep your information up-to-date to avoid delays.

4. Inactive or Closed Bank Accounts

Refunds won’t be processed if your account is inactive, closed, or frozen. Ensure your account is active and able to receive funds.

5. PAN-Bank Account Linkage Issues

If your PAN isn’t linked to your bank account, refunds won’t be processed. Verify that your PAN is registered with your bank and complete any necessary KYC updates.

Troubleshooting Your Delayed Refund

If your refund is delayed, follow these steps:

• Check your bank account validation status on the e-filing portal
• Verify that the names on your PAN and bank account match
• Update your bank details if there have been recent changes
• Contact your bank to resolve any PAN linkage issues

Key Dates for Income Tax Refunds

By addressing these common issues proactively, you can significantly improve your chances of receiving timely income tax refunds. Remember, staying informed and keeping your financial information updated is key to a smooth tax season.

Frequently Asked Questions

Q: How long does it typically take to receive a tax refund?

A: Generally, refunds are processed within 20-45 days after filing your ITR, provided there are no issues with your submission or bank account details.

Q: Can I change my bank account for refund after filing ITR?

A: Yes, you can update your bank account details on the e-filing portal even after filing your ITR. However, this may delay your refund process.

Q: What should I do if my refund is delayed beyond the expected timeframe?

A: If your refund is significantly delayed, you can check its status on the e-filing portal or contact the Income Tax Department’s helpline for assistance.

As the summer heat intensifies across India, so does the pressure on millions of taxpayers racing against time to file their Income Tax Returns (ITR) for the financial year 2023-24. With the deadline of July 31, 2024, looming large, this year’s filing season has been marked by a mix of anticipation, frustration, and calls for leniency.

A Tale of Two Deadlines

For most individual taxpayers and Hindu Undivided Families (HUFs), July 31 remains the red-letter day. However, the tax calendar extends further for businesses, with audit-requiring entities given until October 31, and those needing transfer pricing reports having until November 30 to file their returns.

Mahesh Sharma, a Chartered Accountant based in Mumbai, explains, “The staggered deadlines are designed to accommodate the varying complexities of different tax profiles. But for the average salaried individual, July 31 is the date to remember.”

* The August 31, 2024 date is a proposed extension and has not been officially approved by the Income Tax Department as of this writing.

The Price of Procrastination

While the Income Tax Department allows belated returns until December 31, 2024, this leniency comes at a cost. Late filers may face penalties up to ₹5,000, depending on their income bracket, coupled with a 1% monthly interest on any unpaid taxes.

“It’s not just about the monetary penalty,” warns Priya Desai, a tax consultant from Delhi. “Late filing can also delay potential refunds and may trigger unwanted scrutiny from the tax department.”

Technical Troubles: The E-filing Ordeal

This year’s filing season has been particularly challenging due to persistent issues with the Income Tax Department’s e-filing portal. Taxpayers and professionals alike have reported a litany of problems, from glacial loading speeds to frustrating authentication failures.

Rajesh Kumar, an IT professional from Bangalore, shared his experience: “I’ve been trying to upload my documents for three days now. Each time, the system crashes or logs me out. It’s incredibly frustrating.”

Calls for Clemency

The technical glitches have sparked a growing chorus of voices calling for an extension of the filing deadline. The Institute of Chartered Accountants of India (ICAI) has formally requested the deadline be pushed to August 31, 2024.

“We understand the government’s need to adhere to schedules,” says CA Sharma, “but when the system itself is creating bottlenecks, it’s only fair to give taxpayers some breathing room.”

The Official Stance

Despite the mounting pressure, the Income Tax Department has maintained a stoic silence on the possibility of an extension. An unnamed official from the department stated, “We are monitoring the situation closely, but as of now, the July 31 deadline stands.”

Navigating the Home Stretch

As the clock ticks down, tax experts offer some advice for those yet to file:

• Start early: Don’t wait for the last week to begin the process
• Keep documents ready: Organize all necessary papers beforehand
• Try off-peak hours: The portal may be more responsive late at night or early morning
• Seek professional help: If in doubt, consult a tax professional

Whether the deadline sees an extension or not, one thing is clear: the annual tax filing ritual continues to be a nail-biting affair for millions of Indians. As July 31 approaches, the nation watches with bated breath, hoping for a smooth sailing through the turbulent waters of tax compliance.

In a strong show of investor confidence, two initial public offerings (IPOs) launched on Monday have surpassed expectations, both becoming oversubscribed within hours of opening.

Bansal Wire Industries Ltd, a leading manufacturer in the wire industry, saw its Rs. 745 crore IPO oversubscribed 1.86 times by the end of its first day. The offering, which opened on July 3rd and will close on July 5th, provides investors with lots of 58 shares at Rs. 14,094 per lot.

Meanwhile, pharmaceutical giant Emcure Pharmaceuticals Ltd also made waves with its Rs. 1,952.03 crore IPO. The company’s offering, with a bid price range of Rs. 960-1,008 and lot size of 14 shares, was oversubscribed 1.32 times by market close on Monday.

“The overwhelming response to both IPOs signals a robust appetite for quality offerings in the market,” said a market analyst who wished to remain anonymous. “Investors seem particularly drawn to companies with strong fundamentals and growth potential.”

Both IPOs will remain open until July 5th. Share allotment for successful applicants is scheduled for July 8th, with the stocks set to list on major exchanges on July 10th.

As the IPO market heats up, all eyes will be on how these stocks perform upon listing. The strong initial response suggests that both Bansal Wire and Emcure Pharmaceuticals may be poised for a strong debut.

Investors and market watchers alike will be closely monitoring these IPOs in the coming days, as they could set the tone for future offerings in what has already been a busy year for the Indian IPO market.

CAMS Repository Services (CAMSRep), a leading insurance repository, has introduced ‘Bima Central’, a cutting-edge insurance portfolio management platform designed to simplify policy management for customers. This innovative platform empowers policyholders to manage their insurance portfolio seamlessly, providing a unified and intuitive user interface with real-time data and servicing capabilities.Bima Central is a significant breakthrough in the insurance industry, addressing critical pain points in post-purchase policyholder journeys. With this platform, users can easily access and manage multiple life, health, and motor policies in a single place, streamlining the process of policy servicing and benefit realization.Key features of Bima Central include:

1. Free e-Insurance Account and e-Policy Conversion: Policyholders can open a free e-Insurance Account and convert their policies to digital formats.
2. Convenient Policy Servicing: Users can update personal details, view policy calendars, and receive renewal reminders.
3. Timely Renewals: The platform ensures timely renewals and provides easy access to policy information.
4. View Policy/Portfolio Benefits: Policyholders can view and download policy statements and benefits.
5. Integrated Services: Bima Central integrates with 46 insurance companies across life, general, and health, including longstanding relations with six of the top 10 life insurers.

The platform is designed to provide a seamless customer experience, leveraging cutting-edge design and digital transformation. Vivek Bengani, CEO of CAMSRep, has over 21 years of experience in financial services and has played a key role in the development of Bima Central.CAMSRep has a strong track record of innovation, having developed the Digital Deep Tracing Solution, which recovered over ₹1,200 crore in unclaimed amounts. The company has also expanded its product range to include CKYC, an in-house communication engine, and an aggregator platform.With Bima Central, CAMSRep aims to revolutionize the insurance industry by providing a comprehensive and user-friendly platform for policyholders. The platform is available for both Android and iOS devices, ensuring that customers can access their insurance portfolio management services anywhere, anytime.

Vilas Transcore Limited, a leading manufacturer of power distribution and transmission sector components, has listed on the NSE SME platform at a premium of 46.25% over its IPO price. The company’s IPO, which opened on May 27 and closed on May 29, was oversubscribed by 27.50 times, indicating strong investor interest in the issue.

Vilas Transcore IPO details

The Vilas Transcore IPO was a SME IPO that aimed to raise ₹95.26 crores through the issue of 6,480,000 shares at a price band of ₹139 to ₹147 per share. The IPO was open for subscription from May 27 to May 29, and the allotment date was May 31. The listing date for the IPO was June 3.

Vilas Transcore IPO subscription status

The IPO saw strong subscription from various categories of investors. As of the close of Day-2, the overall subscription stood at 27.50 times, with retail investors leading the charge at 39.32 times. The QIB and HNI/NII categories also saw significant subscriptions, with the QIBs bidding for 6.04 times the shares on offer and the HNI/NII investors bidding for 28.54 times.

Vilas Transcore listing performance

The stock listed at ₹215 per share, a premium of 46.25% over the IPO price of ₹147 per share. This strong listing performance reflects the confidence investors have in the company’s growth prospects and its position in the power distribution and transmission sector.

Vilas Transcore financial performance

Vilas Transcore has a strong financial track record, with revenue from operations increasing from ₹132.65 crores in FY21 to ₹282.60 crores in FY23. The company’s profit after tax (PAT) has also shown a steady growth, increasing from ₹5.23 crores in FY21 to ₹20.22 crores in FY23.

Objectives of Vilas Transcore IPO

The company plans to utilize the raised capital from the IPO to fund its working expenditure requirements, purchase plants and machinery, construct factory buildings, and make strategic investments and acquisitions. The IPO is expected to enhance the company’s financial position and provide a platform for future growth.

Vilas Transcore’s strong listing performance and high subscription levels indicate a positive sentiment among investors. The company’s financial performance and growth prospects are expected to drive its future growth, making it an attractive investment opportunity for those looking to capitalize on the power distribution and transmission sector.

As the exit polls predict a victory for the Bharatiya Janata Party (BJP) in the recently concluded elections, leading financial institutions and market analysts have shared their insights on the potential impact on the Indian economy and stock market.

Nomura, a global financial services group, believes that if the exit poll results translate to actual results, the equity market is likely to react positively. The firm expects foreign institutional investor (FII) flows to improve if the National Democratic Alliance (NDA) forms a stable government, as predicted by the exit polls. Nomura also anticipates that the infrastructure, manufacturing, and capital expenditure (capex) theme sectors will outperform in the near term.

Jefferies, another prominent global investment bank, notes that the numbers shown in the exit polls are higher than expectations, indicating a strong performance by the BJP. The firm suggests that if the actual results mirror the exit polls, it will be a sentimental positive for capex stocks. However, Jefferies also cautions that small and mid-cap stocks (SMID caps) could take a near-term breather following the election rally.

IIFL Securities, a leading Indian financial services company, believes that if Prime Minister Narendra Modi is re-elected, there could be attempts at accelerated reforms. The firm identifies electricity and agriculture as key sectors that could be in focus. IIFL Securities maintains a positive stance on sectors like infrastructure, cement, private banks, NBFCs (Non-Banking Financial Companies), and select industrials. However, the firm is negative on the IT and chemicals sectors and neutral on most consumer sectors.

Kotak Institutional Equities (KIE) expects the government to focus on investment-led growth if the BJP secures a victory. However, the firm finds most sectors and stocks overvalued relative to their fair value. KIE also warns that a large BJP victory may sustain rich-to-bubble multiples in parts of the market.

Motilal Oswal Securities Limited (MOSL) believes that a victory for Prime Minister Modi and the BJP augurs well for the economy and capital markets. The firm notes that India is witnessing its own mini-Goldilocks moment, with stable economic growth and manageable inflation. MOSL’s model portfolio remains aligned with key domestic cyclical themes, and the firm is overweight on financials, consumption, industrials, real estate, and PSU banks. MOSL’s top ideas in large caps include ICICI Bank, SBI, L&T, Coal India, M&M, Adani Ports, ABB, HPCL, and Hindalco, while its top picks in midcaps are Indian Hotels, Godrej Properties, Global Health, KEI Industries, PNB Housing, Cello World, and Kirloskar Oil.

While the exit polls paint a positive picture for the BJP and the overall market sentiment, it is crucial to note that actual election results may differ from predictions. Investors should exercise caution and consider various factors, such as company fundamentals, market conditions, and their own risk tolerance, before making investment decisions based on exit poll numbers or election outcomes.

The insights provided by these leading financial institutions and market analysts offer valuable perspectives on the potential impact of the election results on the Indian economy and stock market. However, as with any investment analysis, it is essential for investors to conduct their own thorough research and consult with financial advisors before making investment decisions.

Gift-giving is a universal expression of love and affection, transcending geographical boundaries. For Non-Resident Indians (NRIs), sending gifts to their loved ones in India can be a meaningful way to connect with family and friends. However, it is crucial to understand the gift tax rules in India to ensure compliance and avoid any potential tax implications. This article aims to demystify the NRI gift tax in India, providing a comprehensive overview of the rules and regulations for gifts from NRIs to resident Indians and vice versa.

Gift Tax Rules in India

The Income Tax Act in India regulates gift tax laws. All donations, whether made in the form of cash, property, or another item, are subject to gift tax. The fair market value at the time of transfer is used to calculate the gift’s worth. Gift tax laws in India apply to both NRIs and resident Indians. Before making any gifts, it is essential to be aware of the gift-tax exemptions and rates.

Gift Tax Exemptions

Certain tax exemptions apply to gifts from NRIs that are given to resident Indians. These exceptions include:

• Gifts from certain family members, such as a spouse, brother, or lineal ascendant or descendant, are completely exempt from gift tax.
• Both the giver and the recipient are exempted from paying taxes in India when an NRI provides gifts to a resident Indian who is not a relative given that total value is less than Rs. 50,000 in cash, checks, goods, or other property.
• The recipient is responsible for paying the gift taxes when an NRI delivers gifts to a resident Indian who is not a relative that exceed Rs. 50,000 in cash, checks, products, or property. The sum is included in the recipient’s income and taxed in accordance with the recipient’s personal income tax bracket.
• Regardless of the recipient’s “relative” status, both the giver and the recipient are exempt from tax in India when an NRI makes gifts to a Resident Indian for marriage or through a will.

Gift Tax Implications for NRIs

NRIs must understand the gift tax implications when sending gifts to resident Indians. Gifts to relatives are exempt, but gifts to non-relatives exceeding Rs. 50,000 are taxable. The recipient is responsible for paying the gift tax, which is included in their income and taxed according to their personal income tax bracket.

Gift Tax Implications for Resident Indians

Resident Indians must also be aware of the gift tax implications when receiving gifts from NRIs. Gifts from NRIs to non-relatives exceeding Rs. 50,000 are taxable. The recipient is responsible for paying the gift tax, which is included in their income and taxed according to their personal income tax bracket.

Documentation and Reporting for NRI Gift Transactions

For NRI gift transactions, proper documentation is essential. It is crucial to keep track of the gift’s fair market value at the time of transfer. For determining the tax ramifications and maintaining legal compliance, this documentation will be crucial. The recipient must accurately report the gift transaction on their income tax return, including details on the connection between the giver and the recipient as well as the gift’s worth.

Avoiding Penalties and Ensuring Compliance

It is crucial to abide by Indian gift-tax laws to prevent fines. Understanding the gift tax exemptions, rates, and filing requirements is essential. You can assure legal compliance by keeping proper records of gift transactions and accurately reporting them. To negotiate the complexity of NRI gifting in India, it is strongly advised that you seek advice from a tax advisor or expert. To prevent any legal repercussions, familiarise yourself with the penalties for non-compliance.

Understanding NRI gift tax in India is crucial to ensure compliance and avoid any potential tax implications. By grasping the gift tax rules and regulations, NRIs and resident Indians can navigate the complexities of gift-giving in India with confidence. This comprehensive guide aims to demystify NRI gift tax, providing a detailed overview of the regulations, rates, and rebates to ensure a thorough understanding and adherence to Indian gift tax norms.

Double Taxation Avoidance Agreement (DTAA) is a treaty between two or more countries to avoid levying taxes twice on the same income. This agreement is crucial for Non-Resident Indians (NRIs) who earn income in India and are subject to taxation in both India and their country of residence. In this article, we will delve into the details of DTAA, its benefits, and the procedures for NRIs to utilize this agreement.

What is DTAA?

DTAA is a treaty between two or more countries to avoid double taxation on the same income. India has DTAA agreements with 88 countries, but currently, 85 have been in force. The primary objective of DTAA is to make a country an attractive destination for investment and to enable NRIs to take relief from paying taxes multiple times.

Benefits of DTAA for NRIs

NRIs can benefit from DTAA in several ways:

• Reduced Tax Burden: DTAA reduces the tax burden on NRIs by avoiding double taxation on the same income. This means that NRIs only pay taxes in one country, either in India or in their country of residence, depending on the tax rate.
• Tax Credit Method: NRIs can claim tax credit in their country of residence for taxes paid in India. This method is beneficial for NRIs who earn income in India and are subject to taxation in both countries.
• Tax Exemption Method: NRIs can claim tax exemption in their country of residence for income earned in India. This method is beneficial for NRIs who earn income in India but are not subject to taxation in their country of residence.

Procedure for NRIs to Utilize DTAA

To utilize DTAA, NRIs must follow these steps:

• Obtain Tax Residency Certificate (TRC): NRIs must obtain a TRC from the Government of their country of residence. The TRC must contain specific details such as the NRI’s name, status, nationality, tax identification number, period of stay, and address.
• Submit Documents: NRIs must submit the TRC and any other required documents to the payer of the income in India. These documents include a self-attested copy of the passport and visa, indemnity-cum-declaration (in case of banks), and a self-attested copy of the PAN card (if available).
• Fill Form 10F: NRIs must fill Form 10F, which is provided by the Income Tax Department, to claim tax exemption or credit. This form must be signed and verified by the NRI.
• Verify Documents: The payer of the income in India must verify the documents submitted by the NRI to ensure compliance with DTAA regulations.

DTAA Rates for Various Countries

The rates of TDS under DTAA for various countries are as follows:

• Armenia: 10%
• Italy: 15%
• Russia: 2%
• USA: 30%

Double Taxation Avoidance Agreement Country List

A total of 85 countries currently have DTAA agreements with India. The following countries having Double Taxation Avoidance Agreement with India. TDS rates on interests are listed below. (Listed alphabetically)

Source: BankBazaar

DTAA is an effective financial agreement that is beneficial to both the taxpayer as well as the respective tax collection authorities in various countries.

DTAA is a crucial agreement for NRIs who earn income in India and are subject to taxation in both India and their country of residence. By understanding the benefits and procedures of DTAA, NRIs can reduce their tax burden and avoid double taxation. It is essential for NRIs to obtain a TRC and submit the required documents to the payer of the income in India to utilize DTAA.