On or before the 30th of June immediately following the financial year, the statement in Form No.1 in respect of all the specified services chargeable to the equalization levy must be given. The equalization levy would be 6% of the amount of consideration for specified services received or receivable by a non-resident not having a permanent establishment ('PE') in India, from an Indian resident carrying on business or profession, or from a non-resident having a permanent establishment in India.

1. Form- 1
(equalization
levy)
VINOD K AGRAWAL & ASSOCIATES, CA

2. WHAT IS FORM-1 (EQUALISATION LEVY) ?
• A new chapter viii, titled ‘Equalization levy,' has been added to the
finance bill, which will take effect on June 1, 2016, and will provide for
an equalization levy of 6% of the amount of consideration for
specified services received or receivable by a non-resident not having
a permanent establishment (‘PE') in India, from a resident in India
who carries on business or profession, or from a nominated person in
India.

3. STEP-1 – visit the incometax.gov.in

4. 2. Login with User ID

5. 3. Enter your Password

6. 4. Click on the File Income Tax Forms

7. 5. Here you will see all the forms available to you, click on the
Form-1 (Equalization levy)

8. 6. Choose the Financial year & click continue

9. 7. Click on “let’s get started”

10. 8. Fill all the details given below

19. After filling all the details you will receive the
successfully message

20. THANKYOU
For more details contact us through:
https://cavkagrawal.business.site/
VINOD K AGRAWAL & ASSOCIATES, CA