Thresholds of Rs. 2 crores notified for the purposes of significant economic presence. CBDT notifies new Rule 11UD Rule 11UD
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 3rd May, 2021
INCOME-TAX
G. S. R. 314(E).—In exercise of the powers conferred by the clause (a) and clause (b) of Explanation 2A to sub-section (1) of section 9 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. Short title and commencement. —(1) These rules may be called the Income-tax (13th Amendment) Rules, 2021.
(2) They shall come into force with effect from the 1stday of April, 2022.
2. In the Income-tax Rules, 1962, after rule 11UC, the following rule shall be inserted, namely:-
(1) For the purposes of clause (a) of Explanation 2A to clause (i) of sub-section (1) of section 9, the amount of aggregate of payments arising from transaction or transactions in respect of any goods, services or property carried out by a non-resident with any person in India, including provision of download of data or software in India during the previous year, shall be two crore rupees;
(2) For the purposes of clause (b) of Explanation 2A to clause (i) of sub-section (1) of section 9, the number of users with whom systematic and continuous business activities are solicited or who are engaged in interaction shall be three lakhs.”.
[F. No. 370142/11/2018-TPL]
KAMLESH CHANDRA VARSHNEY, Jt. Secy.
Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S.O. 969 (E),dated the 26th March, 1962 and last amended vide notification number G.S.R. 301(E), dated 30th April, 2021
Appeal against inadequacy of sentence passed by special court in income tax prosecution cases dismissed by High Court In a…
ICSI launches CS Mitr Scheme to give incentive for getting student registered in Executive Programme ICSI has launched CS Mitr…
CPC order u/s 143(1) is appealable and hence the doctrine of merger with order u/s 143(3) do not arise -…
Under GST Act, there is no specific provision which bounds selling dealer to disclose route to be taken during transportation…
Restrictions on use of words Nidhi Limited unless declared as such under section 406(1). Nidhi (Amendment) Rules 2024 MINISTRY OF…
MCA prescribes period and fee for updating of Directors personal mobile number or email address by e-form DIR-3 KYC MINISTRY…