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of <h1>Section 115A: Tax Rules for Non-Residents and Foreign Companies on Dividends, Royalties, and Technical Fees Explained</h1> Section 115A of the Income-tax Act, as amended by the Finance Act of 1994, outlines the tax obligations for non-residents and foreign companies. It specifies a 20% tax rate on income from dividends, interest, and mutual fund units for non-residents, and a 30% tax rate on royalties and technical service fees for foreign companies. No deductions are allowed for expenses or allowances under specified sections when calculating this income. Additionally, if the total income consists only of specified types, no return is required if tax has been deducted at source. The amendment also clarifies approval requirements for agreements with Indian concerns.
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