Section-505: Submission of statement by a non-resident having liaison office

Section-505 : Submission of statement by a non-resident having liaison office

Learn to understand the section-505 as it is, it's help and useful links to follow.

Here onwards, "Act" refers to "Income Tax Act 2025"

1. Section-505 as per act

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