Sikkimese income exemption expanded to cover Sikkim sources and dividends, with marriage proviso and reverse mortgage loan exemption. A new exemption in section 10 treats income of a qualifying Sikkimese individual from sources in Sikkim or by way of dividend or interest on securities as ... Summary
Sikkimese income exemption expanded to cover Sikkim sources and dividends, with marriage proviso and reverse mortgage loan exemption.
A new exemption in section 10 treats income of a qualifying Sikkimese individual from sources in Sikkim or by way of dividend or interest on securities as exempt, subject to a proviso excluding a Sikkimese woman who marries a non Sikkimese after the stated matrimonial cut off, and an explanation defining "Sikkimese" by reference to the Register of Sikkim Subjects, specified Government orders, or proven paternal or marital lineage. The amendments also add the Coir Board as a specified exempt entity and exempt loan receipts under a reverse mortgage transaction.
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