New exemption - any income accruing or arising to a foreign company on account of sale of leftover stock of crude oil, if any, from the facility in India after the expiry of the agreement or the arrangement - Budget 2017-18 w.e.f. AY 2018-19

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..... THE FINANCE BILL, 2017 Certain incomes not included in total income u/s 10 The existing provisions contained in the said section provide that in computing the total income of a previous year of any person, certain categories of income shall not be included in total income. Clause (48A) of said section provides that any income accruing or arising to a foreign company on account .....

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..... s may be notified by the Central Government in this behalf. These amendments will take effect, from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018-2019 and subsequent years. - FAQ - Frequently Asked Questions, TMI Short Notes , Experts comment, opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Ta .....

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