9911796707
TMI BlogExempt Income of Non-ResidentsX X X X Extracts X X X X X X X X Extracts X X X X ..... erred to in section 194LC(2)(ia), during the period beginning from the 17th day of September, 2018 and ending on the 31st day of March, 2019. Fully exempt 10(4D) Any income accrued or arisen to, or received by a specified fund as a result of transfer of capital asset referred to in section 47(viiab), on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in convertible foreign exchange, to the extent such income accrued or arisen to, or is received in respect of units held by a non-resident. Fully Exempt - Such income exempt to the extent attributable to unit held by NR (not being the PE of a NR in India) or is attributable to the investme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... end of the PY in which he becomes a resident. Rule 21AIA(1)(a). [ Rule 21AIA(1) ] * The specified fund shall maintain the following documents in respect of its unit holders as specified under Rule 21AIA(1)(b). [ Rule 21AIA(1) ] * The specified fund shall certify that it has fulfilled the conditions specified under rule 21AIA(1) and furnish information in respect of units held by residents in the annual statement of exempt income in Form No. 10-IG. [ Rule 21AIA(2) ] * The income attributable to units held by non-resident (not being the permanent establishment of a nonresident in India) in a specified fund shall not be exempt under clause (4D) of section 10 unless the specified fund complies with rule 21AIA(2). [ Rule 21AIA(3) ] * ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stablishment in India. * Meaning of certain terms * "A non-deliverables forward contract" shall mean contract for the difference between an exchange rate agreed before and the actual spot rate at maturity, with the spot rate being taken as domestic rate or a market determined rate and such contract being settled with a single payment in a foreign currency. * "Offshore derivative instrument" shall have the same meaning assigned to it in SEBI Foreign Investors Regulations, 2019. * "Over the counter derivatives" shall mean a derivative contract that is not traded on an exchange but instead is privately negotiated between a purchaser and a seller. 10(4F) Any income of a non-resident by way of royalty or interest, on account of lease o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, 2005. [ Inserted by Notification No. 04/2024 dated 01.04.2024 ] 10(6)(ii) Remuneration received by Foreign Diplomat/Consulate and their staff (Subject to conditions) Fully Exempt 10(6)(vi) Employees of foreign enterprises for services rendered by him during his stay in India, If- where such enterprises is not engaged in any business and his stay is not exceeding 90 days in India and employers is not claiming any deduction for such amount Fully exempt 10(6)(viii) Salary received for employment on a Foreign Ship - stay should not exceed 90 days Fully Exempt - Individual Non-resident Salaried Employee (Not being a citizen of India) 10(6)(xi) Salary received by employee of a foreign Govt. deputed in India - in connection with his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia in connection with any technical assistance programme or project in accordance with the approved agreement. 10(8B) Sub-consultant of consultant u/s 10(8A) Fully Exempt Employee of a consultant, being an Individual: * Not being an Indian Citizen; or * Being an Indian Citizen who is not ordinarily resident in India. Contract of service must be approved by the prescribed authority before commencement of service. 10(9) Income of any member of the family of any such individual as is referred u/s 10(8), 10(8A) & 10(8B) Fully Exempt Foreign Income referred in Section 10(8)/(8A)/(8B)/(9) above refers to The other income accruing or arising outside India. Such Income would be exempt provided: * It is not deemed to accrue or ari ..... X X X X Extracts X X X X X X X X Extracts X X X X
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