India - Income Tax Act 2010 - Saarc

S. 8 I.T. ACT, 1961 1.34(a) an individual who has been a non-resident in India in nine out ofthe ten previous years preceding that year, or has during theseven previous years preceding that year been in India for aperiod of, or periods amounting in all to, seven hundred andtwenty-nine days or less; or(b) a Hindu undivided family whose manager has been a nonresidentin India in nine out of the ten previous years precedingthat year, or has during the seven previous years preceding thatyear been in India for a period of, or periods amounting in all to,seven hundred and twenty-nine days or less.]Income deemed to be received.7. The following incomes shall be deemed to be received in the previous year :—(i) the annual accretion in the previous year to the balance at the creditof an employee participating in a recognised provident fund, to theextent provided in rule 6 of Part A of the Fourth Schedule ;(ii) the transferred balance in a recognised provident fund, to the extentprovided in sub-rule (4) of rule 11 of Part A of the Fourth Schedule ;59[(iii) the contribution made, by the Central Government 60 [or any otheremployer] in the previous year, to the account of an employee undera pension scheme referred to in section 80CCD.]Dividend income.8. 61 [For the purposes of inclusion in the total income of an assessee,—(a) any dividend] declared by a company or distributed or paid by itwithin the meaning of sub-clause (a) or sub-clause (b) or sub-clause(c) or sub-clause (d) or sub-clause (e) of clause (22) of section 2 shallbe deemed to be the income of the previous year in which it is sodeclared, distributed or paid, as the case may be ;62[(b) any interim dividend shall be deemed to be the income of the previousyear in which the amount of such dividend is unconditionally madeavailable by the company to the member who is entitled to it.](Contd. from p. 1.33)(a) an individual who has not been resident in India in nine out of the tenprevious years preceding that year, or has not during the seven previousyears preceding that year been in India for a period of, or periods amountingin all to, seven hundred and thirty days or more ; or(b) a Hindu undivided family whose manager has not been resident in India innine out of the ten previous years preceding that year, or has not during theseven previous years preceding that year been in India for a period of, orperiods amounting in all to, seven hundred and thirty days or more.’59. Inserted by the Finance (No. 2) Act, 2004, w.r.e.f. 1-4-2004.60. Inserted by the Finance Act, 2007, w.r.e.f. 1-4-2004.61. Substituted for “For the purposes of inclusion in the total income of an assessee, anydividend” by the Finance Act, 1965, w.e.f. 1-4-1965.62. Inserted, ibid.