Income tax Amendment (22nd Amendment), Rules, 2021. - Computation of exempt income of specified fund for the purposes of clause (4D) of section 10. - Determination of income of a specified fund attributable to units held by non-residents under sub-section (1A) of section 115AD. - 90/2021 - Income Tax Act, 1961
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Computation of exempt income: formula allocates specified fund income to non resident unit holders for tax treatment. Rules prescribe formulae allocating specified fund income to non resident unit holders (excluding permanent establishments in India) using ratios based on aggregate daily or point in time assets under management for categories including capital gains on transfers in International Financial Services Centres, transfers of securities, income from non resident issued securities not accruing in India, and securitisation trust income. Annual electronic filing of verified statements in Form No.10IG and Form No.10IH is mandated, with procedural and systems responsibilities assigned to the Principal Director General/Director General of Income tax (Systems).
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Computation of exempt income: formula allocates specified fund income to non resident unit holders for tax treatment.
Rules prescribe formulae allocating specified fund income to non resident unit holders (excluding permanent establishments in India) using ratios based on aggregate daily or point in time assets under management for categories including capital gains on transfers in International Financial Services Centres, transfers of securities, income from non resident issued securities not accruing in India, and securitisation trust income. Annual electronic filing of verified statements in Form No.10IG and Form No.10IH is mandated, with procedural and systems responsibilities assigned to the Principal Director General/Director General of Income tax (Systems).
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