Exemption for fees for technical services: specified foreign companies' royalty and service receipts excluded from taxable income under notification. The Central Government declares that income received by the named foreign companies by way of royalty or fees for technical services under three specified contracts-a Direct Supply Contract, a Services-to-the-Air-Force contract, and an EFRC supply contract-shall not be included in computing the total income of those companies under the Income-tax Act, with the notification identifying the companies, the contracts and the administrative file reference.
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Provisions expressly mentioned in the judgment/order text.
Exemption for fees for technical services: specified foreign companies' royalty and service receipts excluded from taxable income under notification.
The Central Government declares that income received by the named foreign companies by way of royalty or fees for technical services under three specified contracts-a Direct Supply Contract, a Services-to-the-Air-Force contract, and an EFRC supply contract-shall not be included in computing the total income of those companies under the Income-tax Act, with the notification identifying the companies, the contracts and the administrative file reference.
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