Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Deferral of retirement account income taxation: option to tax at withdrawal in notified country requires Form 10 EE timely filing. Specified persons may elect to defer taxation of income accruing in specified retirement benefit accounts in a notified country until the year the income is taxed on withdrawal or redemption there, for assessment years from 1 April 2022. The election must cover all specified accounts, is exercised in Form No. 10-EE filed electronically by the return due date, is generally irrevocable for subsequent years, and ceases to apply if the person becomes non-resident, triggering taxation of intervening accruals. Previously taxed amounts and amounts not taxable in India (due to non-residence or DTAA) are excluded and foreign tax on those amounts is ignored for credit computation.
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.
Deferral of retirement account income taxation: option to tax at withdrawal in notified country requires Form 10 EE timely filing.
Specified persons may elect to defer taxation of income accruing in specified retirement benefit accounts in a notified country until the year the income is taxed on withdrawal or redemption there, for assessment years from 1 April 2022. The election must cover all specified accounts, is exercised in Form No. 10-EE filed electronically by the return due date, is generally irrevocable for subsequent years, and ceases to apply if the person becomes non-resident, triggering taxation of intervening accruals. Previously taxed amounts and amounts not taxable in India (due to non-residence or DTAA) are excluded and foreign tax on those amounts is ignored for credit computation.
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