Provisions & Sections to be complied by the Non Resident planning to set up the business in India & Resident dealing with the Non Resident: A compilation

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Provisions & Sections to be complied by the Non Resident planning to set up the business in India & Resident dealing with the Non Resident: A compilation

 

 

 

S. No.
Section
Particulars
1.
2
Definitions
2.
4
Charge of income-tax.
3.
5
Scope of total income.
4.
6
Residence in India.
5.
7
Income deemed to be received in India
6.
9
Income deemed to accrue or arise in India.
7.
9A
Certain activities not to constitute business connection in India
8.
10
Incomes not included in total income
9.
28
Profits and gains of business or profession
10.
40(a)(i)
Amounts not deductible in case of TDS default
11.
40(a)(iii)
Salary payable outside India or to a non-resident not deductible in case of TDS default
12.
44B
Special provision for computing profits and gains of shipping business in the case of non-residents
13.
44BB
Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils.
14.
44BBA
Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents.
15.
44BBB
Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects.
16.
44C
Deduction of head office expenditure in the case of non-residents
17.
44D
Special provisions for computing income by way of royalties, etc., in the case of foreign companies.
18.
44DA
Special provision for computing income by way of royalties, etc., in case of non-residents.
19.
45
Capital gains
20.
47
Transactions not regarded as transfer
21.
48
Mode of computation
22.
49
Cost with reference to certain modes of acquisition
22A.
80EEB
Deduction in respect of purchase of electric vehicle
22B.
80-IAC
Special provision in respect of specified business
22C.
80LA
Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre.
23.
90
Agreement with foreign countries or specified territories
24.
90A
Adoption by Central Government of agreement between specified associations for double taxation relief.
25.
91
Countries with which no agreement exists.
26.
92
Computation of income from international transaction having regard to arm’s length price.
27.
92A
Meaning of associated enterprise.
28.
92B
Meaning of international transaction.
29.
92BA
Meaning of specified domestic transaction.
30.
92C
Computation of arm’s length price
31.
92CA
Reference to Transfer Pricing Officer.
32.
92CB
Power of Board to make safe harbour rules.
33.
92CC
Advance pricing agreement.
34.
92CD
Effect to advance pricing agreement.
34A.
92CE
Secondary adjustment
35.
92D
Maintenance and keeping of information and document by persons entering into an international transaction [or specified domestic transaction]
36.
92E
Report from an accountant to be furnished by persons entering into international transaction [or specified domestic transaction].
37.
92F
Definitions of certain terms relevant to computation of arm’s length price, etc.
38.
93
Avoidance of income-tax by transactions resulting in transfer of income to non-residents.
39.
94
Avoidance of tax by certain transactions in securities.
40.
94A
Special measures in respect of transactions with persons located in notified jurisdictional area.
40A.
94B
Limitation on interest deduction
41.
95
Applicability of General Anti-Avoidance Rule.
42.
96
Impermissible avoidance arrangement.
43.
97
Arrangement to lack commercial substance
44.
98
Consequences of impermissible avoidance arrangement.
45.
99
Treatment of connected person and accommodating party.
46.
100
Application of this Chapter.
47.
101
Framing of guidelines.
48.
102
Definitions.
49.
111A
Tax on short term capital gain in certain cases
50.
112
Tax on long term capital gains
50A
112A
Tax on long-term capital gains in certain cases
51.
115A
Tax on dividends, royalty and technical service fees in the case of foreign companies.
52.
115AB
Tax on income from units purchased in foreign currency or capital gains arising from their transfer
53.
115AC
Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer.
54.
115ACA
Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
55.
115AD
Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer
56.
115BBA
Tax on non-resident sportsmen or sports associations.
57.
115BBD
Tax on certain dividends received from foreign companies
58.
115C
Definitions relating to chapter on ‘Special provisions relating to certain incomes of non-resident’
59.
115D
Special provision for computation of total income of non-residents.
60.
115E
Tax on investment income and long-term capital gains
61.
115F
Capital gains on transfer of foreign exchange assets not to be charged in certain cases.
62.
115G
Return of income not to be filed in certain cases.
63.
115H
Benefit under Chapter to be available in certain cases even after the assessee becomes resident.
64.
115-I
Chapter on ‘Special provisions relating to certain incomes of non-resident’ not to apply if the assessee so chooses.
65.
115JAA
Special provision relating to Minimum Alternate Tax (MAT) Credit
66.
115JB
Special provisions relating to payment of Minimum Alternate Tax (MAT) by certain companies
67.
115JC
Special provisions relating to payment of Alternate Minimum Tax (AMT) by certain persons other than a company
68.
115JD
Tax credit for Alternate Minimum Tax (AMT)
69.
115JE
Application of other provisions of Act to a person liable to pay Alternate Minimum Tax (AMT)
70.
115JEE
Application of provisions relating to Alternate Minimum Tax (AMT) to certain persons
71.
115JF
Interpretation of certain terms referred to in chapter relating to Alternate Minimum Tax (AMT)
72.
115JG
Conversion of an Indian branch of foreign company into subsidiary Indian company
72A
115JH
Special provisions relating to foreign company said to be resident in India
72B
115TCA
Tax on income from securitisation trusts
73.
115U
Special provisions relating to tax on income received from venture capital companies and venture capital funds
74.
115UA
Special provisions relating to Business Trust
75.
115UB
Special provisions relating to tax on income of investment funds and income received from such funds
76.
139
Return of income
77.
139A
Permanent account number
78.
140
Return by whom to be signed
79.
140A
Self-assessment
80.
160
Representative assessee
81.
161
Liability of representative assessee
82.
162
Right of representative assessee to recover taxes paid
83.
163
Who may be regarded as agent
84.
166
Direct assessment or recovery not barred
85.
167
Remedies against property in cases of representative assessee
86.
172
Shipping business of non-residents.
87.
173
Recovery of tax in respect of non-resident from his assets
88.
174
Assessment of persons leaving India.
89.
192
Payment of Salary
90.
192A
Payment of taxable accumulated balance of provident fund to an employee
91.
194B
Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort
92.
194BB
Income by way of winnings from horse races
93.
194E
Payments to non-resident sportsmen or sports associations.
94.
194G
Commission, etc., on the sale of lottery tickets
94A.
194-IB
Payment of rent by certain individuals or Hindu undivided families.
94B.
194-IC
Payment under specified agreement
94C.
194K
Income in respect of units
95.
194LB
Payment of interest on infrastructure debt fund
96.
194LBA
Certain income distributed by a business trust to its unit holder
97.
194LBB
Income in respect of units of investment fund
97A
194LBC
Income in respect of investment in securitisation trust
98.
194LC
Payment of interest by an Indian Company or a business trust in respect of money borrowed in foreign currency under a loan agreement or by way of issue of long-term bonds (including long-term infrastructure bond)
99.
194LD
Payment of interest on rupee denominated bond of an Indian Company or Government securities to a Foreign Institutional Investor or a Qualified Foreign Investor
99A.
194M
Payment of certain sums by certain individuals or Hindu Undivided Families
99B.
194-O
Payment of certain sums by e-commerce operator to e-commerce participant
100.
195
Payment of any other sums to a non-resident or to a foreign company
101.
195A
Income payable “net of tax”
102.
196B
Income from units (including long-term capital gain on transfer of such units) to an offshore fund
103.
196C
Income from foreign currency bonds or shares of Indian company.
104.
196D
Income of Foreign Institutional Investors from securities.
105.
197
Certificate of deduction at lower rate
106.
199
Credit for tax deducted
107.
200
Duty of person deducting tax
108.
201
Consequences of failure to deduct or pay
109.
204
Meaning of person responsible for paying
110.
205
Bar against direct demand on assessee
111.
206AA
Requirement to furnish Permanent Account Number
112.
207
Liability for payment of advance tax
113.
208
Conditions of liability to pay advance tax
114.
209
Computation of advance tax
115.
210
Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer
116.
211
Instalment of advance tax and due taxes
117.
218
When assessee deemed to be in default
118.
219
Credit for advance tax
119.
220
When tax payable and when assessee deemed in default
120.
221
Penalty payable when tax in default
121.
222
Certificate to tax recovery officer
122.
226
Other modes of recovery
123.
228A
Recovery of tax in pursuance of agreements with foreign countries.
124.
230
Tax clearance certificate
125.
234A
Interest for default in furnishing return of income
126.
234B
Interest for default in payment of advance tax
127.
234C
Interest for deferment of advance tax
128.
245N
Provisions relating to advance rulings- Definitions.
129.
245-O
Authority for Advance Rulings.
130.
245P
Vacancies, etc., not to invalidate proceedings.
131.
245Q
Application for advance ruling.
132.
245R
Procedure on receipt of application.
133.
245RR
Appellate authority not to proceed in certain cases.
134.
245S
Applicability of advance ruling.
135.
245T
Advance ruling to be void in certain circumstances
136.
245U
Powers of the Authority.
137.
245V
Procedure of Authority
138.
271BA
Penalty for failure to furnish report under section 92E.
139.
271C
Penalty for failure to deduct tax at source
140.
271FAB
Penalty for failure to furnish statement or information or document by an eligible investment fund
141.
271G
Penalty for failure to furnish information or document under section 92D
142.
271GA
Penalty for failure to furnish information or document under section 285A
142A
271GB
Penalty for failure to furnish report or for furnishing inaccurate report in respect of international group as per section 286
143.
271-I
Penalty for failure furnish information or furnish inaccurate information under Section 195
144.
285
Submission of statement by a non-resident having liaison office
145.
285A
Furnishing or information or documents by an Indian concern, through or in which the Indian assets are held by the foreign company or the entity, in certain cases
146
286
Furnishing of report in respect of international group

 

 

 

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