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Amendment of Section 295 in Finance Bill 2020 that CBDT to make Rules for Income Computation of Non- Residents from Operations Carried Out in India
[Effective from Assessment Year 2021-22]

The Finance Bill, 2020 proposes to amend Section 295 to empower the CBDT to make rules to provide for the manner, in which and the procedure by which the income shall be arrived in case:

  1. Operations carried out in India by a non-resident (with effect from Assessment Year 2021-22);

  2. Transaction or activities of a non-resident (with effect from Assessment Year 2022-23, i.e. after applicability of rules relating to significant economic presence).

 
Amendment in Finance Bill 2020 towards Income from Sale, Distribution or Exhibition of Cinematographic Films is Taxable in case of Non-Resident
[Effective from Assessment Year 2021-22]
Tax Amendments in Finance Bill 2020  
Income Tax Slab for Financial Year 2020-21 (AY : 2021-22)

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