Standing Order No. 3205/2016 of the General Administration Department, Government of Assam dated 27th August, 2016 on the holding of assets outside India

Standing Order No. 3205/2016

GOVERNMENT OF ASSAM

General Administration Department, Government of Assam

Dispur, dated the 27th August, 2016

STANDING ORDER

To

All Tax Recovery 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 General Administration 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 10 to the Director General of Income-tax within twenty-one days, accompanied by a fee of two hundred and fifty rupees.

3. The Tax Recovery Officer shall ensure that demand notice is dealt with as directed above, and shall report compliance to the Director General of Income-tax within twenty-one days.

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

(Secretary to Government)