TaxTMI 
TaxTMI 
Foreign Income subject to DTAA – The scheme of treatment of such income announced
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....oreign Income subject to DTAA – The scheme of treatment of such income announced <br>News and Press Release<br>Dated:- 31-8-2008<br><BR>Central Government has issued two notifications under section ....
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....90 and 90A of the Income Tax Act, 1961 to specify the manner in which the income which is subject to DTAA and subject to tax in the foreign country shall be dealt in India. Notification No. 90/2008-A....
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....ll dated -28-08-2008 Notification No. 91/2008-All dated -28-08-2008 Section 90 empowers the Central Government to enter into an agreement with the foreign countries to avoid double taxation. Sectio....
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....n 90A empowers the Central Government to notify the provision to implement the agreement entered into by the specified association in India with the specified association outside India. There was no ....
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....uniform procedure on treatment of income which was not taxable in India by virtue of DTAA. Now, central government has notified that such income which is eligible for benefit of an agreement to avoid....
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.... double taxation, the assessee is required to include such income first in his taxable income and thereafter he is entitled to claim the relief as per the provision. Consequently, no foreign income s....
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....ubject shall remain unreported.<BR> News - Press release - PIB....