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.