Standing Order No. 3146/2023 of the Finance Department, Government of Assam dated 25th August, 2023 on the holding of assets outside India [C19-WFA]

Standing Order No. 3146/2023

GOVERNMENT OF ASSAM

Finance Department, Government of Assam

Dispur, dated the 25th August, 2023

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 Finance 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 16 to the Appellate Tribunal within sixty days, accompanied by a fee of one hundred rupees.

3. The Inspector of Income-tax shall ensure that return is dealt with as directed above, and shall report compliance to the Appellate Tribunal within sixty days.

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

(Secretary to Government)