Section 9 Of Income Tax Act 1961 Amendments

Connection with television or tapes for use in connection with radio broadcasting but not including consideration for the sale distribution or exhibition of cinematographic films.

Section 9 of income tax act 1961 amendments.

The finance bill 2020 has proposed certain amendments in section 254 of the income tax act 1961. An individual who fulfils any one of the following two tests a or b is called resident under the provisions of this act. The finance bill 2020 bill introduced vide union budget 2020 21 is passed by both houses of parliament with few amendments on 27th march 2020 and also received president s assent. Apportionment of income between spouses governed by portuguese civil code.

One of the amendment which will effect a large number of people is change in scope of tds on cash. Scope of total income. Section 9 of income tax act 1961. Determination of residential status of an assessee under the income tax act.

Income tax department tax laws rules acts income tax act 1961 income tax department all acts income tax act 1961. In section 9 of the income tax act in sub section 1 with effect from the 1st day of april 2016 a. To give effect to the financial proposals for the fy 2020 2021 the government of india has amended inter alia the income tax act 1961 act vide the finance act 2020 published in the gazette of india on 27 march 2020. In this edition we hereby bring to you certain specific amendments to the act together with their impact analysis from practical point of view.

Section 9 1 in the income tax act 1995. Substituted for income tax by the direct tax laws amendment act 1987 w. Therefore we are sending a representation describing the hardships to you for your kind consideration. Section 139 of it act 1961 provides for income tax return itr.

Tax deduction at source tds on cash withdrawl amendment in sec 194n of the income tax act 1961 1. The indian income tax act provides for levy of income tax on the income of foreign companies and non residents but only to the extent of their income sourced from india. The present article features the amendment to tds section 194j of the income tax act 1961 by the finance act 2020. Chapter xiv sections 139 to 158 of the income tax act 1961 deals with the provisions related to procedure for assessment.

These amendments need your separate attention. As per the proposed amendment to tds section 194j tds on fees for technical services other than professional services is reduced from 10 to 2 with effect from 1st april 2020 till 31st march 2020 the tds rate applicable to both fees for professional services and. Residence in india is determined by section 6 of the income tax act 1961.