Specified Asset definition clarifies which assets of non-residents fall under special Chapter, impacting income tax treatment. The document defines the Specified Asset under Chapter XII-A for non-resident taxation as shares in Indian companies; debentures and deposits with Indian ... Summary
Specified Asset definition clarifies which assets of non-residents fall under special Chapter, impacting income tax treatment.
The document defines the Specified Asset under Chapter XII-A for non-resident taxation as shares in Indian companies; debentures and deposits with Indian companies that are not private companies; Central Government securities as per the Public Debt Act; and any other assets the Central Government may notify in the Official Gazette.
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