Non-resident unit income qualifies for no tax deduction when UTI payments meet prescribed NRE Account and FEMA conditions. Tax deduction is ordinarily applicable to income in respect of units payable to non-residents under section 393(2), Table, serial number 10. Non-deduction ... Summary
Non-resident unit income qualifies for no tax deduction when UTI payments meet prescribed NRE Account and FEMA conditions.
Tax deduction is ordinarily applicable to income in respect of units payable to non-residents under section 393(2), Table, serial number 10. Non-deduction applies only where the payment relates to Unit Trust of India units, the recipient is a Non-Resident Indian or non-resident Hindu Undivided Family, and the prescribed conditions under rule 210 concerning NRE Account and FEMA Rules are satisfied.
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