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of <h1>New Rule 21AAA: Taxation of Retirement Income from Notified Countries in India, Effective April 2022.</h1> The Income-tax (6th Amendment) Rules, 2022, effective from April 4, 2022, introduce Rule 21AAA to the Income-tax Rules, 1962. This rule addresses the taxation of income from retirement benefit accounts in notified countries. It allows specified individuals to include such income in their total income for the year it is taxed in the notified country upon withdrawal or redemption. The rule outlines conditions under which income is excluded from total income, including non-residency and Double Taxation Avoidance Agreements. The option, once exercised using Form No. 10-EE, applies to all subsequent years and cannot be withdrawn.
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