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        Bills

        Definition of the term “Liable to tax”

        1 February, 2021

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        Budget 2021-22 + FINANCE Bill, 2021

        Definition of the term “Liable to tax”

        The Act currently does not define the term “liable to tax” though this term is used in section 6, in clause (23FE) of section 10 and various agreements entered into under section 90 or section 90A of the Act. Hence, it is proposed to insert clause (29A) to section 2 of the Act providing its definition. The term “liable to tax” in relation to a person means that there is a liability of tax on that person under the law of any country and will include a case where subsequent to imposition of such tax liability, an exemption has been provided.

        This amendment will take effect from 1st April, 2021 and will, accordingly, apply in relation to the assessment year 2021-22 and subsequent assessment years.

        [Clause 3]

         

        Full Text:

        Budget 2021-22 + FINANCE Bill, 2021

        Liable to tax defined to include existence of tax liability under any country's law, including where exemption later granted. The proposal inserts clause (29A) into section 2 to define 'liable to tax' as a liability to tax on a person under the law of any country, expressly including cases where an exemption is provided after imposition of that liability; the definition is to apply from the statutory effective date and to subsequent assessment years.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Liable to tax defined to include existence of tax liability under any country's law, including where exemption later granted.

                              The proposal inserts clause (29A) into section 2 to define "liable to tax" as a liability to tax on a person under the law of any country, expressly including cases where an exemption is provided after imposition of that liability; the definition is to apply from the statutory effective date and to subsequent assessment years.


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