NRI OR FOREIGN COMPANY NOT REQUIRE TO FILE ITR FROM A.Y. 2019-20 ONWARDS




CENTRAL GOVERNMENT EXEMPTS CLASS OF PERSONS FROM THE REQUIREMENT FILING ITR

A) CLASS OF PERSONS

i) A non resident, not being a company
                        OR
ii) A foreign company

 Who have any income during previous year from  any investment in an “INVESTMENT FUND” set up in an International Financial Services Center (IFSC) located in India.

B) CONDITIONS 

I) If TDS of said class of persons are properly deducted by “Investment Fund “and remitted to the Central Government  as per the provision of section 194LBB
                                                                            AND 
II) There is no any other income during previous year of said class of person, is otherwise liable to file the tax -return

C) EXEMPTION NOT AVAILABLE IF
Notice has been issued under section 142(1), or section 148 or section 153A or section 153C of the Income Tax Act .



Author 
CA Pooja Shukla FCA
RYPS & ASSOCIATES LLP
Website:www.ryps.in
Contact No: 9810505547

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