Annual Statement u/s 285 by a non-resident to be furnished within eight months

Annual Statement u/s 285 by a non-resident to be furnished within eight months 

Under section 285 of the Income Tax Act, 1961 (the Act) every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of India under the Foreign Exchange Management Act, 1999, in respect of its activities in a financial year, is required to prepare and furnish within sixty days from the end of such financial year, an annual statement in Form No. 49C.

CBDT has vide Notification No. 14/2025 dated 07.02.2025 notified the Income-tax (Fourth Amendment) Rules, 2025. Rule No. 114DA has been amended to provide that said Form No. 49C shall be furnished within eight months from the end of such financial year.

An amended Form No. 49C has also been substituted.

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