Office Memorandum No. 1573/2014/CTD of the Commercial Taxes Department, Government of Assam dated 22nd March, 2014 on the holding of assets outside India [C19-0Q0]

No. 1573/2014/CTD

GOVERNMENT OF ASSAM

Commercial Taxes Department, Government of Assam

Dispur, dated the 22nd March, 2014

OFFICE MEMORANDUM

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

1. The undersigned is directed to say that references have been received in the Commercial Taxes Department, Government of Assam on the manner in which the holding of assets outside India by person holding foreign assets is to be regulated under the Assam Agricultural Income-tax Act, 1939.

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 26Q to the Director General of Income-tax within thirty days, accompanied by a fee of two hundred and fifty rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the holding of assets outside India is undertaken, and the Director General of Income-tax shall dispose of it within thirty days of its receipt.

4. Difficulties, if any, in the implementation of this office memorandum may be brought to the notice of the Commercial Taxes Department, Government of Assam.

(Secretary to Government)