Sikkim income exemption clarified: relief for prior-year assessments on specified Sikkim-source income of non-Sikkimese residents. Clause 26AAA (retrospective) exempts certain income of Sikkimese individuals. For non-Sikkimese individuals residing in Sikkim, specified income remains taxable; however, for assessment year 2007-08 and earlier no assessment or reassessment shall be made in respect of that specified income, proceedings for non-filing shall be dropped, and where proceedings are pending without orders the income shall be accepted as per the return. From assessment year 2008-09 onward, assessments will follow the Income-tax Act. These instructions apply only to non-Sikkimese residents of Sikkim.
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Sikkim income exemption clarified: relief for prior-year assessments on specified Sikkim-source income of non-Sikkimese residents.
Clause 26AAA (retrospective) exempts certain income of Sikkimese individuals. For non-Sikkimese individuals residing in Sikkim, specified income remains taxable; however, for assessment year 2007-08 and earlier no assessment or reassessment shall be made in respect of that specified income, proceedings for non-filing shall be dropped, and where proceedings are pending without orders the income shall be accepted as per the return. From assessment year 2008-09 onward, assessments will follow the Income-tax Act. These instructions apply only to non-Sikkimese residents of Sikkim.
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