Central Government may by notification specify such class or classes of persons who will be exempted from the requirement of filing of return.
Non- Resident/Foreign Co., having income only from Investment fund set up in IFSC (International Financial Service Centre) are exempted from furnishing return provided tax on such income has been deducted u/s 194LBB and remitted to the Central Govt.
However, no exemption will be available where a notice u/s 142(1) or Sec 148 has been issued by the AO for filing a return of income.
Read Also : Sec 139(1): Filing of Return of Income (ROI)
Non- Resident / Foreign company, having only Income from specified Fund referred u/s 10(4D) & provisions of obtain PAN not applicable for such assessee.
Non- Resident, being an eligible foreign investor having income only from transfer of capital asset referred to in section 47(viiab) of the said Act, which are listed on a recognized stock exchange located in IFSC and the consideration is paid or payable in foreign currency & provisions of obtain PAN not applicable for such assessee.
