Where a person, who is a non-resident Indian in any previous year, becomes assessable as resident in India in respect of the total income of any subsequent year, he may furnish to the 1 Assessing Officer a declaration in writing along with his return of income under section 139 for the assessment year for which he is so assessable, to the effect that the provisions of this Chapter shall continue to apply to him in relation to the investment income derived from any foreign exchange asset being an asset of the nature referred to in sub-clause (ii) or sub-clause (iii) or sub-clause (iv) or sub-clause (v) of clause (f) of section 115C; and if he does so, the provisions of this Chapter shall continue to apply to him in relation to such income for that assessment year and for every subsequent assessment year until the transfer or conversion (otherwise than by transfer) into money of such assets.
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1. Subs. by Act 4 of 1988, s. 2, for "Income-tax officer" (w.e.f. 1-4-1989).
Section 115BBDA Tax on certain dividends received from domestic companies
Section 115BBF Tax on income from patent
Section 115BBG Tax on income from transfer of carbon credits
Section 115D Special provision for computation of total income of non-residents
Section 115E Tax on investment income and long-term capital gains
Section 115F Capital gains on transfer of foreign exchange assets not to be charged in certain cases
Section 115G Return of income not to be filed in certain cases