Search results
May 7, 2024 · What Is Section 115H Of Income Tax Act? Non-residents can avail certain privileges under Chapter XII-A of the Income Tax Act. This allows them a special tax concession of 20% on their income from foreign exchange asset investments. However, this special tax rate does not apply to resident Indians.
Jan 16, 2024 · Explore the benefits and provisions of Section 115H under the Income Tax Act, designed to facilitate the taxation of returning Indians and non-resident Indians. Learn how this section impacts your financial planning and tax obligations.
Jun 26, 2020 · Analysis of Section 115H of the Income Tax Act 1961: This section applies to the assessee who was NRI in the previous year and becomes an Indian resident in the current Financial Year.
Mar 9, 2023 · Section 115H of Income Tax Act amended by Finance Act & IT Rules. Benefit under Chapter XII-A available even after assessee becomes resident.
Determination of tax where total income includes income on which no tax is payable Show Related Rules and Contents Section - 115VF
Section 115H in The Income- Tax Act, 1995 115H. Benefit under Chapter to be available in certain cases even after the assessee becomes resident Where a person, who is a non- resident Indian in any previous year, becomes assessable as resident in India in respect of the total income of any subsequent year, he may furnish to the 3 Assessing ...
Mar 11, 2024 · Section 115H is specifically designed to cater to the taxation needs of NRIs. It provides several benefits and exemptions for certain types of income earned by NRIs. However, understanding the scope and applicability of this section is vital for NRIs to fully take advantage.
