Relief from taxation for retirement benefit accounts in notified countries allocates taxability to prescribed year and manner. Relief from taxation applies to income accrued in a specified retirement benefit account in a notified country: such income shall be taxed in the manner and in the year as may be prescribed. 'Notified country' means a jurisdiction notified by the Government; 'specified account' means an account in that country where the income is taxed on withdrawal or redemption rather than on accrual; and 'specified person' means an Indian resident who opened the account while non-resident and resident in that country.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Relief from taxation for retirement benefit accounts in notified countries allocates taxability to prescribed year and manner.
Relief from taxation applies to income accrued in a specified retirement benefit account in a notified country: such income shall be taxed in the manner and in the year as may be prescribed. "Notified country" means a jurisdiction notified by the Government; "specified account" means an account in that country where the income is taxed on withdrawal or redemption rather than on accrual; and "specified person" means an Indian resident who opened the account while non-resident and resident in that country.
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