9911796707
TMI BlogINCOME NOT TO BE INCLUDED IN TOTAL INCOME OF ELIGIBLE NON-RESIDENTS, FOREIGN COMPANIES AND OTHER SUCH PERSONSX X X X Extracts X X X X X X X X Extracts X X X X ..... al income Eligible persons Conditions A B C D 1. Any income by way of interest. (a) A person being an individual, who is a resident outside India as defined in section 2(w) of the Foreign Exchange Management Act, 1999 (42 of 1999); or (b) a person being an individual who has been permitted by the Reserve Bank of India to maintain the said account. Such interest is on moneys standing to the credit of such person in a Non-Resident (External) Account in any bank in India as per the said Act and the rules made thereunder. 2. Any remuneration received for service in the capacity as an official mentioned in column C, not being a citizen of India. An official, by whatever name called, of an embassy, high commission, legati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... remuneration received as an employee of the Government of a foreign State. An employee of the Government of a foreign State, not being a citizen of India. Such remuneration is received during his stay in India in connection with his training in any establishment or office of, or in any undertaking owned by- (a) the Government; or (b) any company in which the entire paid-up share capital is held by the Central Government or any State Government or State Governments, or partly by the Central Government and partly by one or more State Governments; or (c) any company which is a subsidiary of a company referred to in clause (b); or (d) any corporation established by or under a Central Act or State Act or Provincial Act; or (e) any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e subsidiaries of the same holding company; and (c) such income is received or accrues or arises in India for any relevant tax year beginning on or before the 1st April, 2029. 10. Any income derived in India by way of interest, dividends or Capital gains from investments made. The European Economic Community. Such investments made out of its funds under such scheme as the Central Government may, by notification specify. 11. Any income received in India in Indian currency. A foreign company. (a) Such income is on account of sale of crude oil or any other goods or rendering of services, as notified by the Central Government in this behalf, to any person in India; (b) receipt of such income in India by the foreign compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v) (a), (15) (iv) (b) or (15) (iv) (fa) of the Income-tax Act, 1961(43 of 1961) subject to the conditions as specified therein. Note 1: For the purposes of Sl. No. 9,-- (a) "specified company" means any company, other than a domestic company which operates cruise ships in India and opts to pay tax as per the provisions of section 61(2)(Table: Sl. No. 2); (b) "holding company", in relation to a foreign company or a specified company, means a company of which such companies are subsidiary companies; and (c) "subsidiary company" or "subsidiary", in relation to a holding company, means a company in which the holding company exercises or controls more than one-half of the total share capital either at its own or together ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
