Power of the Central Board of Direct Taxes to prescribe the manner and procedure for computing period of stay in India

[Admin TMI]

Question - What are proposed changes in manner and procedure for computing period of stay in India in Finance Bill 2015 ?

AI Summary

Proposed Changes in Finance Bill 2015 Clarify Tax Residency for Indian Crew on Foreign Ships, Effective April 2015 The discussion addresses the proposed changes in the Finance Bill 2015 regarding the computation of the period of stay in India for tax purposes. The Central Board of Direct Taxes (CBDT) is empowered to prescribe the manner and procedure for this computation. The amendment focuses on Indian citizens who are crew members on foreign-bound ships, where there is ambiguity in determining their stay period in India. The proposed change aims to clarify this by establishing specific conditions and procedures, effective retrospectively from April 1, 2015, applicable to the assessment year 2015-16 and onwards.