News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Direct Tax »
 Pawan Kumar Dua C/o. RRA Tax India, D-28, South Extension, Part-1 Vs. ACIT Central Circle-28 New Delhi
 Harvansh Chawla, C-17, Nizamuddin East, Dekhi Vs. ACIT, Circle-5, Room No.362, E-2, ARA Centre, 3rd Floor, Jhandewalan Extn. New Delh
 CBDT notifies Form 10-IC and Form 10-ID for Concessional Corporate Taxationa
 9 things new parents need to know before filing their taxes in 2020
 Last Day To File Belated ITR With Less Penalty, E-Verify Return
 Notification No.05/2020 - Central Board Of Indirect Taxes And Customs
 CBDT says income tax shortfall 'non-neogtiable', instructs top brass to pull up their socks to meet FY20 target
 Are you really saving your taxes? Know your Tax slabs & review your investment plans now!
 Notification No.05/2020 Central Board Of Indirect Taxes And Customs
 Notification No.05/2020 Central Board Of Indirect Taxes And Customs
 Should you invest in NPS just to get additional tax benefit?a

Notification No. 55/2019 Central Board Of Direct Taxes
August, 08th 2019
                                        MINISTRY OF FINANCE
                                         (Department of Revenue)
                                  (CENTRAL BOARD OF DIRECT TAXES)
                                             NOTIFICATION
                                       New Delhi, the 26th July, 2019
         S.O. 2672(E).--In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-
tax Act, 1961 (43 of 1961), the Central Government, hereby exempts the following class of persons, subject to
the conditions specified hereinafter, from the requirement of furnishing a return of income under sub-
section (1) of section 139 of the said Act from Assessment Year 2019-20 onwards, namely:-
1. Class of persons. - (i) a non-resident, not being a company; or (ii) a foreign company, who have any income chargeable under the said Act during a previous-year from any investment in an investment fund set up in an International Financial Services Centre (IFSC) located in India. Explanation:- For the purposes of this paragraph.- (a) "investment fund" means any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a Category I or Category II Alternative Investment Fund and is regulated under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992); ¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3 (b) "International Financial Services Centre" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005). 2. Conditions. - In case of class of persons referred to in para 1, - (i) any income-tax due on income of the said class of persons has been deducted at source and remitted to the Central Government by the investment fund at the tax-rate in force as per provisions of section 194LBB of the said Act; and (ii) there is no other income during the previous year for which the said class of persons, is otherwise liable to file the tax-return.

3. The exemption from the requirement of furnishing a return of income shall not be available to the said class of persons where a notice under sub-section (1) of section 142 or section 148 or section 153A or section 153C of the said Act has been issued for filing a return of income for the assessment year specified therein. 4. This notification shall come into force from the date of its publication in the Official Gazette. [F.No. 225/79/2019-ITA.II/Notification No. 55/2019] RAJARAJESWARI R., Under Secy. . Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting