Dewan P.N. Chopra Shares Residency Circular

Dewan P. N. Chopra & Co.

Chartered Accountants

CBDT vide Circular No. 2/2021 dated 03.03.2021 has mentioned residency provisions under Income Tax Act and DTAAs explaining that a person will be resident in only one jurisdiction (in most cases) and there will not be double taxation of income in view of provisions of domestic tax law r.w. DTAAs.  However, to understand genuine cases wherein taxpayer may be facing double taxation due to forced stay in India even after taking into consideration reliefs provided by DTAAs, CBDT has prescribed Form –NR seeking information about the said cases. Form NR is required to filed by 31.03.2021  based on information provided in Form NR, CBDT may consider whether relaxation is required in this matter.

For details, please find attached the Residency Circular No. 2/2021 dated 3rd March 2021.

Should you require any further information/clarification in this regard, please feel free to contact us.

CBDT vide Circular No. 2/2021 dated 03.03.2021 has mentioned residency provisions under Income Tax Act and DTAAs explaining that a person will be resident in only one jurisdiction (in most cases) and there will not be double taxation of income in view of provisions of domestic tax law r.w. DTAAs.  However, to understand genuine cases wherein taxpayer may be facing double taxation due to forced stay in India even after taking into consideration reliefs provided by DTAAs, CBDT has prescribed Form –NR seeking information about the said cases. Form NR is required to filed by 31.03.2021  based on information provided in Form NR, CBDT may consider whether relaxation is required in this matter.

For details, please find attached the Residency Circular No. 2/2021 dated 3rd March 2021.

Should you require any further information/clarification in this regard, please feel free to contact us.