Standing Order No. 3596/2008 of the Consumer Affairs Department, Government of Assam dated 12th June, 2008 on the holding of assets outside India [C16-MVN]

Standing Order No. 3596/2008

GOVERNMENT OF ASSAM

Consumer Affairs Department, Government of Assam

Dispur, dated the 12th June, 2008

STANDING ORDER

To

All Inspectors of Income-tax,

Subject: The holding of assets outside India by person holding foreign assets under the Assam Agricultural Income-tax Act, 1939, regarding.

In exercise of the powers conferred by section 9 of the Assam Agricultural Income-tax Act, 1939 (Assam Act 9 of 1939), the Consumer Affairs Department, Government of Assam hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the holding of assets outside India by person holding foreign assets.

2. The matter has been examined. Every person holding foreign assets carrying on the holding of assets outside India shall make an application in Form ITR-1 to the Joint Commissioner within seven days, accompanied by a fee of five thousand rupees.

3. The Inspector of Income-tax shall ensure that audit report is dealt with as directed above, and shall report compliance to the Joint Commissioner within seven days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the Consumer Affairs Department, Government of Assam.

(Secretary to Government)