Finance Bill proposes to retrospectively expand scope of Black-Money Act to include NR, RNOR

Jul 05,2019

Finance Bill proposes to retrospectively amend definition of “assessee” u/s 2 of the Black Money Act to also include a person being a non-resident or not ordinarily resident in India apart from person being resident in India; Accordingly, states that “assessee” shall mean a person being a resident in India within the meaning of Sec 6 of the Income-tax Act, in the previous year, or a person being a non-resident or not ordinarily resident in India u/s 6(6) o...


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