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Statutory Provisions

Home Acts & Rules Bill Bills FINANCE BILL, 2023 Chapters List Chapter III DIRECT TAXES - Income-tax This

Clause 91 - Amendment of section 206CCA. - FINANCE BILL, 2023

FINANCE BILL, 2023
Chapter III
DIRECT TAXES - Income-tax
  • Contents

Amendment of section 206CCA.

91. In section 206CCA of the Income-tax Act, in sub-section (3), for the proviso, the following proviso shall be substituted, namely:––

“Provided that the specified person shall not include––

(i) a non-resident who does not have a permanent establishment in India; or

(ii) a person who is not required to furnish the return of income for the assessment year relevant to the said previous year and is notified by the Central Government in the Official Gazette in this behalf.”.

 



 

Notes on Clauses:

Clause 91 of the Bill seeks to amend section 206CCA of the Income-tax Act relating to special provision for collection of tax at source for non-filers of income-tax return.

Sub-section (3) of the said section defines “specified person” to mean a person who has not furnished the return of income for the assessment year relevant to the previous year immediately preceding the financial year in which tax is required to be collected. The proviso to said sub-section excludes a non-resident from the definition of specified person, if the non-resident does not have a permanent establishment in India.

It is proposed to amend the said proviso to exclude a person who is not required to furnish the return of income for the assessment year relevant to the said previous year and is notified by the Central Government in the Official Gazette in this behalf.

This amendment will take effect from the 1st April, 2023.

 
 
 
 

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