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Archive: 25 February 1985

Posts in 25 February 1985

Circular No. 411-Income Tax dated 25-2-1985

February 25, 1985 264 Views 0 comment Print

Circular No. 411-Income Tax The provisions of section 6 of Wealth-tax Act, read with section 10(4A) of the Income-tax Act, allow exemption from wealth-tax on the moneys lying to the credit in a Non-resident (External) [NRE] Account belonging to a person resident outside India within the meaning of section 2(q) of the Foreign Exchange Regulation Act, 1973. Section 5(1)(xxxiii) provides that in the case of an

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