Daily Archives: March 31, 2026

Section 209 Income Tax Act 2025 Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer. 209. (1) The income-tax payable, on the total income of an assessee, being a non- resident, which includes income specified in column B of the Table below, shall be the aggregate… Read More »

Section 210 Income Tax Act 2025 Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer. 210. (1) The income-tax payable on the total income of an assessee, being a specified fund or Foreign Institutional Investor, which includes income referred to in column B of the Table below, shall be… Read More »

Section 211 Income Tax Act 2025 Tax on non-resident sportsmen or sports associations. 211. (1) Where the total income of an assessee,— (a) being a sportsman (including an athlete), who is not a citizen of India and is a non-resident, includes any income received or receivable by way of— (i) participation in India in any game [other… Read More »

Section 212 Income Tax Act 2025 Interpretation* . 212.In sections 213 to 218,— (a) “foreign exchange asset” means any specified asset which the assessee has acquired or purchased with, or subscribed to in, convertible foreign exchange; (b) “investment income” means any income derived from a foreign exchange asset; (c) “long-term capital gains” means income chargeable under the head “Capital gains”… Read More »

Section 213 Income Tax Act 2025 Special provision for computation of total income of non-residents. 213. (1) No deduction in respect of any expenditure or allowance shall be allowed under any provision of this Act in computing the investment income of a non-resident Indian. (2) In the case of an assessee, being a non-resident Indian, where—… Read More »

Section 215 Income Tax Act 2025 Capital gains on transfer of foreign exchange assets not to be charged in certain cases. 215.  (1) Where, in case of an assessee, being a non-resident Indian,— (a) any long-term capital gains arises from the transfer of a foreign exchange asset (herein referred to as original asset); and (b) within… Read More »

Top 10 key points about income tax rules 2026 from 1st April 2026 Top 10 key points about income tax rules 2026 from 1st April 2026 Here are the top 10 key points regarding the newly notified Income Tax Rules, 2026 1. Effective Date and Naming The rules are officially designated as the Income-tax Rules,… Read More »

Section 216 Income Tax Act 2025 Return of income not to be furnished in certain cases.  216.  It shall not be necessary for a non-resident Indian to furnish a return of his income under section 263(1), if— (a) his total income during the tax year consisted only of investment income or income by way of long-term capital… Read More »

Section 217 Income Tax Act 2025 Benefit under Chapter to be available in certain cases even after assessee becomes resident.  217.  Where a non-resident Indian in any tax year,— (a) becomes assessable as a resident in India in respect of total income in a subsequent year; and (b) furnishes a declaration in writing to the Assessing… Read More »