TMI BlogMEMORANDUM REGARDING DELEGATED LEGISLATIONX X X X Extracts X X X X X X X X Extracts X X X X ..... to accrue or arise in India. The proposed amendment seeks to provide that in a case where all assets owned by the company or entity referred to in Explanation 5 of the said section are not located in India only such part of Income shall accure or arise in India as is reasonably attributable to assets located in India and determined in such manner as may be prescribed. Clause 6 of the Bill seeks to insert a new section 9A in the Income-tax Act relating to certain activities not to constitute business connection in India. Sub section (5) of the proposed new section 9A provides for furnishing of statement in prescribed form to the prescribed Income-tax authority containing information regarding fulfilment of conditions specified there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the prescription for such medical treatment from a neurologist, an oncologist, a urologist, a haematologist, an immunologist or such other specialist as may be prescribed. Clause 32 of the Bill seeks to insert a new section 115UB in the Income-tax Act relating to tax on income in certain cases. Sub-section (7) of the proposed section provides that the person referred to therein shall within such time as may be prescribed furnish to the prescribed income tax authority a statement in the prescribed form, verified in such manner and giving such other relevant details as may be prescribed. Clause 40 of the Bill seeks to amend section 192 of the Income-tax Act relating to salary. It is proposed to insert sub-section (2D) in the sai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... called, who is responsible for crediting such sum or tax to the credit of the Central Government, shall deliver or cause to be delivered to the prescribed income-tax authority, or to the person authorised by such authority, a statement in such form, verified in such manner, setting forth such particulars and within such time as may be prescribed. Clause 53 of the Bill seeks to amend section 206C of the Income-tax Act relating to profits and gains from the business of trading in alcoholic liquor, forest produce, scrap, etc. It is proposed to insert sub-section (3A) in the said section to provide that in case of an office of the Government, where the amount collected under subsection (1) or sub-section (1C) or sub-section (1D) has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e by authorised representative. It is proposed to substitute the Explanation after sub-section (2) of the said section so as to define the expression accountant . The proposed definition, inter alia, provide vide sub-clause (viii) of clause (b) of the said Explanation that in case of an assessee, not being a company, a person who whether directly or indirectly, has business relationship with the assessee of such nature as may be prescribed shall not be qualified to be an accountant except for the purposes of representing an assessee under sub-section (1) of section 288. Clause 78 of the Bill seeks to amend section 295 of the Income-tax Act relating to power to make rules. It is proposed to amend said sub-section (2) so as to pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... carrying out the provisions of the said Chapter. 2. The matters in respect of which rules may be made or notification or order may be issued in accordance with the provisions of the Bill are matters of procedure and detail and it is not practicable to provide for them in the Bill itself. 3. The delegation of legislative power is, therefore, of a normal character. LOK SABHA ________ A BILL to give effect to the financial proposals of the Central Government for the financial year 2015-2016. ________ (Shri Arun Jaitley, Minister of Finance.) - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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