CBDT notifies Rule 21AAA to provide tax relief on income arising from foreign retirement funds

CBDT has notified Rule 21AAA and Form No. 10-EE to be filed by a person claiming relief under section 89A. As per the Rule, if the income from foreign retirement funds is taxed at the time of redemption or withdrawal in the foreign jurisdiction, the assessee shall have the option to include such income in that relevant previous year (previous year in which withdrawal/redemption is made).CBDT has notified Rule 21AAA and Form No. 10-EE to be filed by a person claiming relief under section 89A. As per the Rule, if the income from foreign retirement funds is taxed at the time of redemption or withdrawal in the foreign jurisdiction, the assessee shall have the option to include such income in that relevant previous year (previous year in which withdrawal/redemption is made).taxmann.com Latest Statutory HappeningsRead More

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