cs vinay mehta

Non-resident individuals and foreign companies have now been given a compliance relief as part of the government’s efforts to attract more investment fund activity in the International Financial Services Centre (IFSC) located in India If below mentioned two conditions are satisfied. 1) Tax deducted at source on income of these class of person(from funds set up in the IFSC) deducted and remitted to the central goverment and 2)There should be no other income other than it. However, the exemption from filing of return would not be available to these categories of persons where a notice under Section 142 (1)/148/153A/153C has been issued for filing a return of income.

*FLA Return Update* 1. “The reporting entity need to take approval from RBI in case of submission of FLA – 2019 after due date July 31, 2019. Procedure: Visit https://flair.rbi.org.in/fla → Login → Click Please click here to get the approval to fill FLA form for current year after due date (31/07/2019) / for previous years → select 2019 → Click “Request”. _*2.Submission of  FLA returns for previous years will be activated after September 15, 2019*_ Source : Flair portal. https://flair.rbi.org.in/fla/faces/pages/login.xhtml Regards CS Vinay Mehta Mo:- 7405237385