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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

Extract

..... ection 10= A*C1 + B*C2 +D*FI+E*F2, where A = any income accrued or arisen to, or received by a specified fund as a result of transfer of capital asset referred to in clause (viiab) of section 47 , on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in convertible foreign exchange; B = any income accrued or arisen to, or received by a specified fund as a result of transfer of securities (other than shares in a company resident in India); C1 = ratio of the aggregate of daily ‘assets under management’ of the specified fund held by non-resident unit holders (not being the permanent establishment of a non-resident in India) to the aggregate of daily total ‘assets under management’ of the specified fund, from the date of acquisition of the capital asset referred to in clause (viiab) of section 47 to the date of transfer of such capital asset. C2= ratio of the aggregate of daily ‘assets under management’ of the specified fund held by non-resident unit holders (not being the permanent establishment of a non-resident in India) to the aggregate of daily to .....

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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

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..... d to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005) (c) “permanent establishment” shall have the same meaning as assigned to it in clause (iiia) of section 92F; (d) "securities" shall have the meaning as assigned to it in clause (bb) of the Explanation to clause (4D) of section 10; (e) “due date” shall have the same meaning as assigned to it in the Explanation 2 to sub-section (1) of section 139; (f) "specified fund" shall have the same meaning as assigned to it in sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10; and (g) “unit” shall have the same meaning assigned to it in clause (f) of Explanation to clause (4D) of section 10. 21AJ.Determination of income of a specified fund attributable to units held by non-residents under sub-section (1A) of section 115AD.- (1) For the purposes of sub-section (1A) of section 115AD, the income of a specified fund by way of short-term or long-term capital gains, referred to in clause (b) of sub-section (1) of section 115AD, attributable to the units held by non-resident (not being the permanent establishment of a non-resident in .....

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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

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..... ing as assigned to it in clause (iiia) of section 92F; (c) "securities" shall have the same meaning as assigned to it in clause (bb) of the Explanation to clause (4D) of section 10; (d) “due date” shall have the same meaning as assigned to it in the Explanation 2 to sub-section (1) of section 139; (e) "specified fund" shall have the same meaning as assigned to it in sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10; and (f) “unit” shall have the same meaning as assigned to it in clause (f) of Explanation to clause (4D) of section 10.’. 2. In the principal rules, after Form No.10IF, the following Forms shall be inserted, namely :- “Form No.10IG [See sub-rule (2) of rule 21AI] Statement of Exempt income under clause (4D) of section 10 of the Income-tax Act, 1961 S.no. 1. Name of the Specified Fund: 2. Address of the registered office of the specified fund: 3. Legal status [company/ trust/ limited liability partnership/ body corporate]: 4. Permanent Account Number: 5. Previous year ending: 6. (i) Registration number as per the certificate of registration issued by the International Financial Services Ce .....

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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

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..... hing such statement in my capacity as_____________________________(designation) and that I am competent to make this declaration and furnish this statement. Place: Date: Yours faithfully, Signature …………….………………. Name………………………………… Designation………………………… Notes: 1. Attach a copy of the certificate of registration under Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. 2. “Assets under management” means the closing balance of the value of assets or investments of the specified fund as on a particular date. 3. "International Financial Services Centre" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005). 4. “International Financial Services Centre Authority” means an Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019 (50 of 2019). 5. &ldq .....

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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

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..... ) (6) (7) (8)=(6)/(7) (9)= (5)*(8) 1. Total Part II. Income from a securitisation trust which is chargeable under the head "Profits and gains of business or profession. 2. Total + add rows as required ^Relevant code to be selected 1. Dividend 2. Interest 3. Other Income. Please specify Form No.10IH [See sub-rule (3) of rule 21AJ] Statement of income of a Specified fund eligible for concessional taxation under section 115AD of the Income-tax Act, 1961 S. No. 1. Name of the Specified Fund: 2. Address of the registered office of the specified fund: 3. Legal status [company/ trust/ limited liability partnership/ body corporate]: 4. Permanent Account Number: 5. Previous year ending: 6. (i) Registration number as per the certificate of registration issued by the International Financial Services Centre Authority: (ii) Date of registration: dd/mm/yyyy 7. Total Income of Specified Fund during Previous Year ( In Rs) Details of income of specified fund attributable to non-residents and eligible for concessional taxation under section 115AD ( in Rs) S. No. Income/ Loss of the Specified Fund Amount Income attributable to units held by non-resident (not being a permanent establishment of a .....

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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

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..... tent to make this declaration and furnish this statement. Place: Date: Yours faithfully, Signature …………….………………. Name………………………………… Designation………………………… Notes : 1. Attach a copy of the certificate of registration under Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. 2. “Assets under management” means the closing balance of the value of assets or investments of the specified fund as on a particular date. 3. "International Financial Services Centre" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005). 4. “International Financial Services Centre Authority” means an Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019 (50 of 2019). 5. “Permanent establishment” shall have the meaning assigned to it in clause (iiia) of sectio .....

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Income tax Amendment (22nd Amendment), Rules, 2021. - 90/2021 - Income Tax

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