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 Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Govt Cuts Tax Rates for Foreign Firms, Non-Residents in Mineral Oil Deals u/s 293A of Income-Tax Act.</h1> The Central Government has issued a notification under Section 293A of the Income-tax Act, 1961, allowing a reduction in income-tax rates for foreign companies and non-resident individuals involved in agreements with the government for mineral oil extraction activities. If the total income consists solely of profits from such activities, the tax rate will be 50% of the income. For other income compositions, tax is calculated by combining the tax on mineral oil profits at 50% with the tax on remaining income at the average rate. Definitions for 'average rate of income-tax,' 'foreign company,' and 'mineral oil' are provided.
TaxTMI 
TaxTMI 
