Tax exemption for royalties and technical services excludes specified contract receipts from taxable income under notified provision. Notification exempts income of M/s Rosoboronexport by way of royalty or fees for technical services received under Contract No. P/235611233623 (24 January 2007) with Hindustan Aeronautics Limited, pursuant to the India-Russia intergovernmental agreement, from inclusion in the company's total income under the Income-tax Act up to Rs. 103.50 crore, as specified by the Central Government under clause (6C) of section 10 via Notification No. 66/2015 dated 13 August 2015.
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Provisions expressly mentioned in the judgment/order text.
Tax exemption for royalties and technical services excludes specified contract receipts from taxable income under notified provision.
Notification exempts income of M/s Rosoboronexport by way of royalty or fees for technical services received under Contract No. P/235611233623 (24 January 2007) with Hindustan Aeronautics Limited, pursuant to the India-Russia intergovernmental agreement, from inclusion in the company's total income under the Income-tax Act up to Rs. 103.50 crore, as specified by the Central Government under clause (6C) of section 10 via Notification No. 66/2015 dated 13 August 2015.
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