Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Significant economic presence triggers business connection and local taxability for income from transactions, user interactions and data-driven services. Amendments to section 9 declare that significant economic presence of a non resident constitutes a business connection in India, defined by prescribed ... Summary
Significant economic presence triggers business connection and local taxability for income from transactions, user interactions and data-driven services.
Amendments to section 9 declare that significant economic presence of a non resident constitutes a business connection in India, defined by prescribed thresholds for transactions (including data or software downloads) or systematic user interaction, and provide that only income attributable to those transactions or activities is deemed to accrue or arise in India. Explanation 3A specifies that income from targeted advertisements, sale of data from Indian users, and sale of goods or services using such data is attributable to operations in India. The amendments also adjust exemptions for investments through specified foreign portfolio investor categories and expand the definition of royalty to include consideration for cinematographic films.
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