Standing Order No. 1350/2018 of the Law Department, Government of Assam dated 22nd December, 2018 on the holding of assets outside India

Standing Order No. 1350/2018

GOVERNMENT OF ASSAM

Law Department, Government of Assam

Dispur, dated the 22nd December, 2018

STANDING ORDER

To

All Assessings Officer of the charge,

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 Law 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 35 to the Board within sixty days, accompanied by a fee of five thousand rupees.

3. The Assessing Officer of the charge shall ensure that demand notice is dealt with as directed above, and shall report compliance to the Board within sixty days.

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

(Secretary to Government)