Section 285 of Income Tax Act for AY 2023-24

Section 285 of Income Tax Act amended by Finance Act and Income-tax Rules. Submission of statement by a non-resident having liaison office.

Amended and updated notes on section 285 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to submission of statement by a non-resident having liaison office.

Chapter XXIII (Sections 281 to 298) of the Income Tax Act 1961 deals with the provisions related to Miscellaneous. Section 285 of IT Act 1961 provides for Submission of statement by a non-resident having liaison office.

Recently, we have discussed in detail section 284 (service of notice in the case of discontinued business) of IT Act 1961. Today, we learn the provisions of section 285 of Income-tax Act 1961. The amended provision of section 285 is effective for financial year 2022-23 relevant to the assessment year 2023-24.

In this article, you will learn detail of the provisions of section 285 of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.

Section-285: Submission of statement by a non-resident having liaison office

Every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of India under the Foreign Exchange Management Act, 1999 (42 of 1999), shall, in respect of its activities in a financial year, prepare and deliver or cause to be delivered to the Assessing Officer having jurisdiction, within sixty days from the end of such financial year, a statement in such form and containing such particulars as may be prescribed.


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