Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
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Informative
Budget 2024-25: New Compliance Rules for Non-Resident Liaison Offices
Update / Judgement Date
25 Jul 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Corporate ComplianceIncome TaxInternational Taxation
The Budget 2024-25 introduces new compliance rules for non-resident liaison offices in India. Non-residents must submit a statement of activities to the Assessing Officer within 60 days after the financial year ends. Failure to comply can result in a penalty of ₹1,000 per day for up to three months, and ₹1 lakh beyond that. A new section, 271GC, will be added, but penalties can be waived if a reasonable cause is proven under section 273B. These changes will be effective from April 1, 2025.
