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of <h1>Section 10 Update: New Clause 26AAA Exempts Sikkimese Income, Non-Sikkimese to Face Assessments from 2008-09 Onwards.</h1> A new clause (26AAA) in section 10 of the Income-tax Act, 1961, exempts income for Sikkimese individuals from any source in Sikkim or from dividends and interest on securities, effective from the assessment year 1990-91. Non-Sikkimese individuals residing in Sikkim remain taxable. For assessment years up to 2007-08, no assessments or reassessments will be made on income from Sikkim sources or securities for non-Sikkimese individuals, and ongoing proceedings will be dropped. For the assessment year 2008-09 onwards, assessments will proceed as per the Act. These instructions specifically target non-Sikkimese individuals in Sikkim.
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