Amendment of section 295.

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....ations carried out in India by a non-resident;"; (b) after sub-clause (iia) as so inserted, the following sub-clause shall be inserted with effect from the 1st day of April, 2022, namely:-- "(iib) transactions or activities of a non-resident;". - Clause 103 of the Bill seeks to amend section 295 of the Income-tax Act relating to power to make rules. Sub-section (1) o....

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....in case of operations carried out in India by a non-resident. This amendment will take effect from the 1st day of April, 2021 and will, accordingly, apply in relation to the assessment year 2021-22 and subsequent assessment years.  It is further proposed to amend said clause (b) by way of insertion of sub-clause (iib) so as to provide that the rules made by the Board may provide, to be ....