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[Cites 0, Cited by 0] [Section 206(1)] [Section 206] [Entire Act]

Union of India - Subsection

Section 206(1)(l) in The Income Tax Act, 2025

(l)The provisions of this sub-section shall not be applicable to any assessee, being a foreign company, where––
(i)the assessee is a resident of a country or a specified territory with which India has an agreement referred to in section 159(1) or the Central Government has adopted any agreement under section 159(2) and the assessee does not have a permanent establishment in India as per the provisions of such agreement; or
(ii)the assessee is a resident of a country with which India does not have an agreement of the nature referred to in sub-clause (i) and the assessee is not required to seek registration under any law for the time being in force relating to companies; or
(iii)the total income of the assessee comprises solely of profits and gains from business referred to in section 61(2) (Table: Sl. Nos. 1, 3, 4 and 5), and such income has been offered to tax at the rates specified is the respective sections.