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of <h1>Non-resident Liaison Offices Must Submit Annual Financial Activity Statement Within 60 Days Under Income-tax Act Section Rules</h1> A non-resident entity operating a liaison office in India under Reserve Bank of India guidelines must prepare and submit a prescribed statement detailing its financial year activities to the relevant Assessing Officer. This submission must occur within the timeframe specified by law, currently set as sixty days from the end of the financial year. The statement's form and content are prescribed by regulations under the Income-tax Act, 1961. This requirement ensures regulatory oversight of liaison office operations for tax and compliance purposes.
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