Latest Updates

• renumbered provisions in the Income Tax Act 1947; 
• citation of Acts;
• all the illustrations to more recent YAs; and
• the relevant references to SFRS(I).

The e-Tax Guide has been updated with the following changes: 

• Renumbered provisions in the Income Tax Act 1947 (2020 Revised Edition)
• Addition of “a body of persons” in paragraph 7.1 and footnote 4 to incorporate the changes under section 37D(4AA) with effect from YA 2023. The subsequent footnotes were renumbered
• Editorial changes to footnote 6 and paragraph 9.4

The e-Tax Guide has been updated with the following changes: 

• Inserted new tax avoidance categories and examples in section 6:
  • Setting up of conduit entity to obtain treaty benefit for the purpose of avoiding withholding tax
  • Assignment of debt to an offshore jurisdiction for the main purpose of obtaining tax advantage
• Inserted section 9 on section 33A surcharge