Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Rule-making power for non-resident taxation: prescribed procedures to determine income for non-resident operations and transactions. Section 295 is amended to permit the Central Board of Direct Taxes by rules to prescribe the manner and procedure for arriving at income in respect of ... Summary
Rule-making power for non-resident taxation: prescribed procedures to determine income for non-resident operations and transactions.
Section 295 is amended to permit the Central Board of Direct Taxes by rules to prescribe the manner and procedure for arriving at income in respect of operations carried out in India by a non-resident (new sub-clause (iia), effective April 1, 2021) and in respect of transactions or activities of a non-resident (new sub-clause (iib), effective April 1, 2022), thereby identifying two specific subjects for rule-making under sub-section (2)(b).
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.