Transactions not regarded as transfer – CBDT notifies List of 150 Countries

Section 47 of Income Tax Act, 1961 deals with transfers which are not regarded as transfer under Income Tax and vide Notification No. 46/2022-Income Tax | Dated: 27th April, 2022 notified list of 150 Countries for clauses (viiac) and (viiad) of section 47 of the Income-tax Act, 1961.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhie

Notification No. 46/2022-Income Tax | Dated: 27th April, 2022

S.O. 1951(E).—In exercise of the powers conferred by sub-clause (ii) of clause (a) of Explanation to clauses (viiac) and (viiad) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following countries and specified territories, mentioned in column (2) of the Table given below, for the purposes of the said clauses, namely:—

TABLE

2. This notification shall come into force from the date of its publication in the Official Gazette.

[Notification No. 46/2022/ F. No. 370142/1/2022-TPL (Part-I)]

UMME FARDINA ADIL, Under Secy.