Removal of Cyprus from list of notified jurisdictional area u/s 94A of Income Tax Act – Circular No. 15 of 2017

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(Last Updated On: April 22, 2017)

Circular No. 15 of 2017

F. No. 500/002/201 S-FT&TR’lll(1 )

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, dated 21st April, 2017

Subject: Clarification on removal of Cyprus from the list of notified jurisdictional areas under   section 94A of the lncome tax Act, 1961

Cyprus was specified as a “notified jurisdictional area” (NJA) under section 94A of the lncome-Tax Act, 1961 vide Notification N0.86/2013 dated 01.11.2013. The said Notification No. 86/2013 was subsequently rescinded vide Notification No. 114 dated 14.12.2016 and Notification No. 1 19 dated 16.12.2016 with effect from the date of issue of the notification.

2. lt has been brought to notice of the Central Board of Direct Taxes that in some cases a view has been taken by the Income-tax authorities that the rescission of Notification No. 86/2013 was not with retrospective effect from 01 .11.2013, For removal of doubts, it is hereby clarified that Notification No. 86/2013 has been rescinded with effect from the date of issue of the said notification, thereby, removing Cyprus as a notified jurisdictional area with retrospective effect from 01 .11.2013

(Garirav Sharma)

Under Secretary to Government of India

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