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The CBDT has inserted a new Rule 11UD to define the threshold limits for Significant Economic Presence as defined by Explanation 2A of Section 9. Rule 11UD provides that for the purposes of clause (a) of Explanation 2A to section 9(1)(i), the threshold limit shall be Rs. 2 crores. Whereas for the purpose of clause (b) of Explanation 2A to section 9(1)(i), the threshold limit shall be 3 lakhs.The CBDT has inserted a new Rule 11UD to define the threshold limits for Significant Economic Presence as defined by Explanation 2A of Section 9. Rule 11UD provides that for the purposes of clause (a) of Explanation 2A to section 9(1)(i), the threshold limit shall be Rs. 2 crores. Whereas for the purpose of clause (b) of Explanation 2A to section 9(1)(i), the threshold limit shall be 3 lakhs.taxmann.com Latest Statutory HappeningsRead More