Submission of statement by a non-resident having liaison office [ Section 285 & Section 271GC ]

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e with the guidelines issued by the Reserve Bank of India under the Foreign Exchange Management Act, 1999, shall, in respect of its activities in a financial year, prepare and deliver or cause to be delivered to the Assessing Officer having jurisdiction, "sixty days from the end of such financial year, a statement" "such period, a statement"[subsititued by Finance (No. 2) Act, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....shall specify the procedure for filing of annual statement [ Form 49C ] and shall also be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to statements so furnished. Penalty for failure to submit statement under section 285 [ Section 271GC ] [ Inserted vide Finance (No. 2) Act, 2024 w.e.f. 01.04.2025 ] If any person who is required ....