TMI BlogExemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2021-2022X X X X Extracts X X X X X X X X Extracts X X X X ..... -In exercise of the powers conferred by sub-section (1C) of section 139 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as said Act ), the Central Government, hereby exempts the following class of persons mentioned in column (2) of the Table below, subject to the conditions specified in column (3) of the said Table , from the requirement of furnishing a return of income unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onditions mentioned in sub-rule (1) of rule 114AAB of the Income-tax Rules, 1962 (hereinafter referred to as said rules ). 2 a non-resident, being an eligible foreign investor. (i) The said class of persons, during the previous year, has made transaction only in capital asset referred to in clause (viiab) of section 47 of the said A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Securities and Exchange Board of India, circular IMD/HO/FPIC/CIR/P/2017/003 dated 04th January, 2017 ; (b) 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) ; (c) recognised stock exchange shall have the meaning as assigned to it in clause (ii) of Explanation 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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