Date: 15.04.2021 As per Income Tax Act, 1961 (“ITA”) Residential status of a taxpayer determines the incidence of income tax in India. India follows a mix of source based and residence based taxation. Thus, ascertainment of residential status is …
read moreTax on Non-Resident Indians -New Dimensions of ‘liable to tax’
Tax on Non-Resident Indians -New Dimensions of ‘liable to tax’ The Finance Bill, 2021, has introduced a clause (29A) in section-2 of the Income Tax Act, 1961, defining “liable to tax” as under: “(29A) “liable to tax”, in relation to a person, …
Continue reading “Tax on Non-Resident Indians -New Dimensions of ‘liable to tax’”
read more