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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Foreign Companies Without Indian Business Presence Now Covered Under Wealth-tax Act Section 45 Amendment by Finance Act 1975</h1> Section 45 of the Wealth-tax Act has been amended by the Finance Act of 1975 to include a new clause (h). This clause specifies that any company incorporated outside India, which does not have a place of business in India, is covered under this section. This amendment is deemed to have always been in effect, impacting how wealth tax is applied to foreign companies without a business presence in India.
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