Tax rate on royalties and technical service fees reduced for non-resident companies on gross receipts under later agreements. Amendment reduces the rate of tax chargeable on income by way of royalty and fees for technical services received by non-resident companies not effectively connected with a permanent establishment in India, substituting the existing rate of twenty-five per cent. with ten per cent. on the gross amount where payments arise under agreements entered after 31st March, 1976.
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Provisions expressly mentioned in the judgment/order text.
Tax rate on royalties and technical service fees reduced for non-resident companies on gross receipts under later agreements.
Amendment reduces the rate of tax chargeable on income by way of royalty and fees for technical services received by non-resident companies not effectively connected with a permanent establishment in India, substituting the existing rate of twenty-five per cent. with ten per cent. on the gross amount where payments arise under agreements entered after 31st March, 1976.
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