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Amendment of section 9.

..... for the words in the case of a business , the words in the case of a business, other than the business having business connection in India on account of significant economic presence, shall be substituted with effect from the 1st day of April, 2022; (ii) Explanation 2A shall be omitted with effect from the 1st day of April, 2021 and the following Explanation shall be inserted with effect from the 1st day of April, 2022, namely:- Explanation 2A.-For the removal of doubts, it is hereby declared that the significant economic presence of a non-resident in India shall constitute "business connection" in India and "significant economic presence" for this purpose, shall mean- (a) transaction in respect of any goods, services or .....

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..... ternet protocol address located in India; and (iii) sale of goods or services using data collected from a person who resides in India or from a person who uses internet protocol address located in India. ; (iv) after Explanation 3A as so inserted, the following proviso shall be inserted with effect from the 1st day of April, 2022, namely:- Provided that the provisions contained in this Explanation shall also apply to the income attributable to the transactions or activities referred to in Explanation 2A. ; (v) in Explanation 5,- (I) in the second proviso, after the words, brackets and figures Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014 , the words prior to their repeal shall be inserted; (II) after .....

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..... a on account of significant economic presence. This amendment will take effect from the 1st April, 2022 and will, accordingly, apply in relation to the assessment year 2022-2023 and subsequent assessment years. Explanation 2A to said clause, inter alia, clarifies that the significant economic presence of a non-resident in India shall constitute "business connection" in India. It is proposed to omit the said Explanation with effect from the 1st April, 2021 and will, accordingly, be omitted from the assessment year 2021-2022 and subsequent assessment years. It is proposed to insert a new Explanation 2A so as to declare that for the purposes of clause (i) of sub-section (1) of said section, the significant economic presence of a non- .....

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..... , as referred to in Explanation 1 of clause (i) of sub-section (1) of said section, shall include income from- (i)such advertisement which targets a customer who resides in India or a customer who accesses the advertisement through internet protocol address located in India; (ii) sale of data collected from a person who resides in India or from a person who uses internet protocol address located in India; and (iii)sale of goods and services using data collected from a person who resides in India or from a person who uses internet protocol address located in India. This amendment will take effect from 1st April, 2021 and will, accordingly, apply in relation to the assessment year 2021-2022 and subsequent assessment years. It is also proposed .....

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..... tained therein shall not apply to an asset or a capital asset, held by a non-resident by way of investment, directly or indirectly, in Category-I foreign portfolio investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, made under the Securities and Exchange Board of India Act, 1992. These amendments will take effect from the 1st April, 2020 and will, accordingly, apply in relation to the assessment year 2020-2021 and subsequent assessment years. Clause (vi) of sub-section (1) of said section deems certain income by way of royalty to accrue or arise in India. Clause (v) of Explanation 2 to said clause defines the term royalty to mean the transfer of all or any rights (including the granting .....

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