Concessional tax for exported technical know how requires Board approval, convertible foreign exchange receipt and audited accounts for eligibility. Section 80 O allows deduction for royalties, commissions, fees or similar payments for exported technical know how or technical services rendered outside India, only where income is received from a foreign government or foreign enterprise. Eligibility is contingent on Board approval of the agreement, audited accounts and prescribed audit report for non company assessees, restriction to Indian companies after amendment, receipt and repatriation in convertible foreign exchange as required by law, and computation of deduction as net income after related expenses.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Concessional tax for exported technical know how requires Board approval, convertible foreign exchange receipt and audited accounts for eligibility.
Section 80 O allows deduction for royalties, commissions, fees or similar payments for exported technical know how or technical services rendered outside India, only where income is received from a foreign government or foreign enterprise. Eligibility is contingent on Board approval of the agreement, audited accounts and prescribed audit report for non company assessees, restriction to Indian companies after amendment, receipt and repatriation in convertible foreign exchange as required by law, and computation of deduction as net income after related expenses.
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