TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 1976: Sections 44C & 44D Limit Deductions for Non-Residents and Foreign Companies on Income and Fees.</h1> The Finance Act of 1976 introduced Sections 44C and 44D to the Income-tax Act, effective June 1, 1976. Section 44C limits the deduction of head office expenditure for non-residents to the lowest of three specified amounts, with detailed definitions provided for terms like 'adjusted total income' and 'average head office expenditure.' Section 44D outlines special provisions for foreign companies, capping deductions for royalties and technical service fees received from Indian entities under agreements made before April 1, 1976, to 20% of the gross amount, and disallowing deductions for agreements made after March 31, 1976. Definitions for 'fees for technical services,' 'foreign company,' and 'royalty' are also provided.
TaxTMI 
TaxTMI 
