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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Act 2016 introduces 6% Equalisation Levy on digital services from non-residents, with exemptions for small payments.</h1> Chapter VIII of the Finance Act, 2016 introduces the Equalisation Levy to address taxation challenges in the digital economy. It imposes a 6% levy on payments for specified services received by non-residents without a permanent establishment in India from residents or non-residents with a permanent establishment in India. The levy is exempt if the total consideration does not exceed one lakh rupees annually. The chapter outlines definitions, collection procedures, statutory authorities, and penalties for non-compliance. It also provides for rule-making by the Central Government and exempts income from specified services from double taxation under section 10 of the Act.
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