Special Provision in respect of transaction with person located in Notified Jurisdictional Area - Section 94A

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....n with any country or territory outside India, specify by notification in the Official Gazette such country or territory as a notified jurisdictional area in relation to transactions entered into by any assessee. Note - Clarification on removal of Cyprus from the list of notified jurisdictional areas under section 94A. [ Circular no. 15/2017, dated 21.04.2017 ] If an Assessee enters into transa....

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....ocated in NJA shall include a person who is a resident of NJA and a person not being an Individual, which is established in the NJA, it would also include a permanent establishment of any other person in NJA. Authorisation: Payments made to any financial institution located in NJA would not be allowed as deduction unless the assessee authorizes the CBDT or any other Income-Tax authority acting in....

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....10FC to be deposited with or transmitted to the financial institution referred to in section 94A(3)(a). * (3) The second copy of the Form No.10FC along with the evidence of the first copy of said Form having been deposited or transmitted to the financial institution shall be submitted by the assessee to the Assessing Officer having jurisdiction over him * (4) For the purpose of ensuring that t....

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....ctional area or outside, having directly or indirectly more than ten per cent. shareholding or ownership interests; * (b) a profile of the multinational group of which the specified person is a part along with the name, address, legal status and country of tax residence of each of the enterprises comprised in the group with whom the assessee has entered into a transaction, and ownership linkage ....