Menu
Notification No.: 123/2024
Notification Date: 28th November 2024
Relevant Act / Rule: Income Tax Act, 1961
The Central Government, in consultation with the Reserve Bank of India, has issued a notification exempting Foreign Representations approved by the Ministry of External Affairs (such as Diplomatic Missions, United Nations agencies, International Organisations, Consulates, and Offices of Honorary Consuls) from the provisions of section 194N of the Income-tax Act, 1961. These entities are exempt from paying taxes in India under the Diplomatic Relations (Vienna Convention) Act 1972 (43 of 1972) and the United Nations (Privileges and Immunities) Act 1947 (46 of 1947). The notification is effective from December 1, 2024.
Disclaimer: The information contained in this Article is intended solely for personal non-commercial use of the user who accepts full responsibility of its use. The information in the article is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. We make no representation or warranty of any kind, express or implied regarding the accuracy, adequacy, reliability or completeness of any information on our page/article.