Increasing the uncertainty within India’s tax environment, the Indian Central Board of Direct Taxes (CBDT) recently withdrew Circular 23 of 1969, which laid out limitations on the taxability of non-resident business income in India. The withdrawal of the circular could be particularly relevant for a non-resident who requires the presence of an agent in India and is situated in a jurisdiction which has not entered into a tax treaty with India.
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The legislative and regulatory update is compiled by Nishith Desai Associates, a Mumbai-based law firm. The authors can be contacted at nishith@nishithdesai.com. Readers should not act on the basis of this information without seeking professional legal advice.