July 1 to July 15 2019
Clarification regarding taxability of income earned by a non-resident investor from off-shore investments routed through an Alternate Investment Fund
As section 115UB(1) of the Income tax Act 1961 (Act) provides that the investments made by Category I or Category II AIFs are deemed to have been made by the investor directly, government of India has now clarified that any income in the hands of the non-resident investor from off-shore investments routed through the Category I or Category II AIF, being a deemed direct investment outside India by the non-resident investor is not taxable in India under section 5(2) of the Act.
It is further clarified that loss arising from the off-shore investment relating to non-resident investor, being an exempt loss, shall not be allowed to be set-off or carried-forward and set off against the income of the Category I or Category II AIF.
Companies (Significant Beneficial Owners) 2nd Amendment Rues, 2019
Ministry of Corporate Affairs (MCA) has amended Companies (Significant Beneficial Owners) Rules, 2018 to substitute new format of Form BEN-2.
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If your organization sends employees abroad, you need to understand what a shadow payroll is and how it works. Register Today June 4, 2020 | 1PM EDT | 6PM BST If your organization…
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