Clause 31 - Insertion of new section 285- Submission of statement by a non-resident having liaison office. - Finance Bill, 2011

Insertion of new section 285. 31. After section 284 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2011, namely:- Submission of statement by a non-resident having liaison office. 285 . Every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of India under the Foreign Exchange Management Act, 1999, (42 of 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, within sixty days from the end of such financial year, a statement in such form and containing such particulars as may be prescribed. .