Section 160 Income Tax Act 2025 Countries with which no agreement exists. 160.(1) If any person who is resident in India in any tax year proves that, in respect of his income which accrued or arose during that tax year outside India (and which is not deemed to accrue or arise in India), he has… Read More »
RULE 12 INCOME-TAX RULES 2026 RULE 12 INCOME-TAX RULES 2026 Determination of income attributable to assets in India. 12. (1) The income from transfer outside India of a share of, or interest in, a company or an entity referred to in section 9(10)(a) attributable to assets located in India, shall be determined with reference to the… Read More »
Section 161 Income Tax Act 2025 CHAPTER X Special provisions relating to avoidance of tax Computation of income from international transaction and specified domestic transaction having regard to arm’s length price. 94 161. 95 (1) Any income96 arising from an international transaction or a specified domestic transaction shall be determined having regard to the arm’s length price. (2) Any… Read More »
Section 162 Income Tax Act 2025 Meaning of associated enterprise. 162.(1) For the purposes of this Chapter, the expression “associated enterprise”, in relation to another enterprise, means an enterprise— (a) which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise in the following… Read More »
Section 163 Income Tax Act 2025 Meaning of international transaction. 1 163. 2 (1) For the purposes of this Chapter, the expression “international transaction”3 means a transaction between two or more associated enterprises, one of which is necessarily a non-resident, and includes— (a) the purchase, sale, transfer, lease or use of tangible property, including building, transportation vehicle, machinery, equipment,… Read More »
RULE 11 INCOME-TAX RULES 2026 RULE 11 INCOME-TAX RULES 2026 Fair market value of assets in certain cases. 11. (1) The fair market value of asset, tangible or intangible, as on the specified date, held directly or indirectly by a foreign company or entity, for the purposes of section 9(10) shall be computed as per… Read More »
Form 97 Income tax Rules 2026 PDF Download FORM NO. 97 [See rules 159 and 160] Form for declaration to be filed by any person (other than a company or firm) or a foreign company covered by sub-rule (2) to rule 159 , who does not have a permanent account number and who enters into… Read More »
RULE 10 INCOME-TAX RULES 2026 RULE 10 INCOME-TAX RULES 2026 Definition of terms for rules 11 and 12. 10. For the purposes of rules 11 and 12, — (a) “accountant” — (i) means an accountant referred to in section 515(3)(b), who fulfils the following conditions: — (A) if he is pursuing the profession of accountancy individually… Read More »
RULE 9 INCOME-TAX RULES 2026 RULE 9 INCOME-TAX RULES 2026 Determination of income in case of non-residents. 9. In any case in which the Assessing Officer is of opinion that the actual amount of the income accruing or arising to any non-resident person, whether directly or indirectly, through or from — (a) any asset or source… Read More »
RULE 8 INCOME-TAX RULES 2026 RULE 8 INCOME-TAX RULES 2026 Computation of period of stay in India for an Indian citizen, being a member of the crew of a foreign bound ship. 8. (1) For the purposes of section 6(6), in case of an individual, being a citizen of India and a member of the crew… Read More »