Submitted By: Shristi Rajput
Circular No 29/2019 Clarification in respect of option exercise under section 115BBA of the Income tax act
CBDT Circular No. 29/2019 (very short description): This circular clarifies the exercise of option under section 115BBA, stating that the option for concessional taxation on certain non-resident income (like winnings, royalty, etc., in specified cases) must be exercised in accordance with prescribed conditions and timelines, and once exercised it is generally binding for that assessment year.
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