Exemption scope expanded for non-resident royalties and technical service fees; related clause definitions and exclusions revised. Amendments to section 10 add an exemption for income to non-residents (not being companies) by way of royalty or fees for technical services rendered to the National Technical Research Organisation; broaden a clause term from 'employee' to 'assessee'; add a proviso making specified disallowance and payment provisions apply mutatis mutandis when determining amounts of application; exclude certain long-term capital gains from a clause where arising from transfers of equity shares, equity-oriented fund units, or business trust units; and insert clarifying phrases expanding scope and covering payments on termination of agreements.
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Provisions expressly mentioned in the judgment/order text.
Exemption scope expanded for non-resident royalties and technical service fees; related clause definitions and exclusions revised.
Amendments to section 10 add an exemption for income to non-residents (not being companies) by way of royalty or fees for technical services rendered to the National Technical Research Organisation; broaden a clause term from "employee" to "assessee"; add a proviso making specified disallowance and payment provisions apply mutatis mutandis when determining amounts of application; exclude certain long-term capital gains from a clause where arising from transfers of equity shares, equity-oriented fund units, or business trust units; and insert clarifying phrases expanding scope and covering payments on termination of agreements.
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