New Delhi, February 2025: The Indian government has outlined its fiscal strategy for the upcoming years in its latest Fiscal Responsibility and Budget Management (FRBM) Policy Statement. The report, tabled in Parliament by Finance Minister Nirmala Sitharaman, revises the fiscal deficit target for FY 2024-25 to 4.8% of GDP, with a further reduction to 4.4% […]
Assessment of persons residing outside India (1) Where the person liable to tax under this Act resides outside India, the tax may be levied upon and recovered from his agent, and the agent shall be deemed to be, for all the purposes of this Act, the assessee in respect of such tax. (2) Any person
Assessment when assets are held by certain associations of persons (1) Where assets chargeable to tax under this Act are held by an association of persons, other than a company or co-operative society 31[or society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in
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