https://www.taxtmi.com/acts?id=51705 Where asset transfers, alone or with associated operations, cause income to be payable to a non-resident, that income is deemed to be the income of the person who, by virtue of the transfer, acquires rights giving him the power to enjoy the non-resident's income and would have been taxable if it were his. The deeming also applies where a capital sum connected to the transfer is paid to that person. The deeming is subject to an exception if the Assessing Officer is satisfied the transfers were not for tax-avoidance and were bona fide commercial transactions. en-us Thu, 14 Aug 2025 11:19:58 +0530 Wed, 27 Aug 2025 17:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51705 Where asset transfers, alone or with associated operations, cause income to be payable to a non-resident, that income is deemed to be the income of the person who, by virtue of the transfer, acquires rights giving him the power to enjoy the non-resident's income and would have been taxable if it were his. The deeming also applies where a capital sum connected to the transfer is paid to that person. The deeming is subject to an exception if the Assessing Officer is satisfied the transfers were not for tax-avoidance and were bona fide commercial transactions. Act-Rules Income Tax Thu, 14 Aug 2025 11:19:58 +0530 https://www.taxtmi.com/acts?id=51705