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Amendment of section 10

) any income arising to a non-resident, not being a company, or a foreign company, by way of royalty from, or fees for technical services rendered in or outside India to, the National Technical Research Organisation; ; (b) with effect from the 1st day of April, 2019,- (i) in clause (12A), for the word employee , the word assessee shall be substituted; (ii) in clause (23C), after the twelfth proviso [as inserted by section 6 of the Finance Act, 2017 (7 of 2017)], the following proviso shall be inserted, namely:- Provided also that for the purposes of determining the amount of application under item (a) of the third proviso, the provisions of sub-clause (ia) of clause (a) of section 40 and sub-sections (3) and (3A) of section 40A, shall, muta .....

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technical services rendered in or outside India to the National Technical Research Organisation. This amendment will take effect from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018-2019 and subsequent years. Clause (12A) of the said section provides that any payment from the National Pension System Trust to an employee on closure of his account or on his opting out of the pension scheme referred to in section 80CCD, to the extent it does not exceed forty per cent. of the total amount payable to him at the time of such closure or his opting out of the scheme shall not be included in his total income. It is proposed to amend the said clause so as to extend the aforesaid exemption to all the assessees who .....

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These amendments will take effect from 1st April, 2019 and will, accordingly, apply in relation to the assessment year 2019-2020 and subsequent years. Clause (46) of said section, inter alia, provides for notification in respect of exemption to specified income arising to a body or authority or Board or Trust or Commission (by whatever name called), not engaged in any commercial activity, established or constituted by or under a Central, State or Provincial Act, or constituted by the Central Government or a State Government, with the object of regulating or administering any activity for the benefit of the general public. It is proposed to amend the said clause so as to provide such exemption to specified income arising to a class of body o .....

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