Standing Order No. 3125/2025 of the Excise Department, Government of Assam dated 2nd July, 2025 on the holding of assets outside India [C1A-3PP]

Standing Order No. 3125/2025

GOVERNMENT OF ASSAM

Excise Department, Government of Assam

Dispur, dated the 2nd July, 2025

STANDING ORDER

To

All Income-tax Officers,

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 Excise 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 26Q to the Dispute Resolution Panel within sixty days, accompanied by a fee of one thousand rupees.

3. The Income-tax Officer shall ensure that assessment is dealt with as directed above, and shall report compliance to the Dispute Resolution Panel within sixty days.

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

(Secretary to Government)