effective date for change for Fees for technical services-reg

[Ramakrishnan Seshadri]

Dear Sir,

'Reduction in rate of tax on Income by way of Royalty and Fees for technical services in case of non – residents – Proposed Reduction in Royalty / FTS rate to 10% from 25%

• It is proposed to reduce the rate of tax provided under section 115A on royalty and FTS payments made to non-residents from 25% to 10%.'
• Could any inform us the effective date for this tds reduction in rate for fees for technical services.
• Whether this is immediate effect or after the finance bill approval by the president.
• Kindly experts clarify.
• Thanks & Regards,
• S.Ramakrishnan

AI Summary

Proposed Tax Rate Reduction on Royalties for Non-Residents Under Section 115A: Immediate or Post-Finance Bill Approval? A participant in a discussion forum inquired about the effective date for a proposed reduction in the tax rate on income from royalties and fees for technical services paid to non-residents. The proposal suggests reducing the tax rate from 25% to 10% under section 115A. The individual seeks clarification on whether the change is immediate or contingent upon the finance bill's approval by the president. They request expert guidance on this matter.