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of <h1>Finance Bill 2022 Withdraws Tax Exemptions for Cooperative Technical Assistance Programs in India, Effective April 2023.</h1> The Finance Bill 2022 proposes to withdraw exemptions under clauses (8), (8A), (8B), and (9) of section 10 of the Income-tax Act, 1961, effective from April 1, 2023. These clauses previously provided tax exemptions for individuals and consultants involved in cooperative technical assistance programs in India, including their foreign income. The rationale for withdrawal is to simplify tax laws and align with the government's policy of phasing out exemptions. The change aims to prevent India from relinquishing its tax rights under international tax treaties. These amendments will apply from the assessment year 2023-24 onwards.
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