Approval of agreement under which assessee-company receives royalty, etc., from any concern in India which is eligible for deduction under the section

Approval of agreement under which assessee-company receives royalty, etc., from any concern in India which is eligible for deduction under the section - Guidelines therefor https://www.taxtmi.com/circulars?id=4542 The Board will approve agreements under section 80MM only where they genuinely provide specified technical know how likely to assist defined productive operations, are entered into on or after 1 April 1969 (with Indian company eligibility rules effective from 1 April 1975), and are not collusive or vague. Composite agreements combining qualifying and non qualifying items will be approved, where practicable, subject to suitable disallowance for non qualifying components; otherwise approval may be refused. Applicants must submit certified copies of the agreement and a detailed proforma of disclosures. en-us Sat, 06 Jul 1974 00:00:00 +0530 Wed, 30 Jul 2008 14:18:00 +0530 TaxTMI RSS Generator Approval of agreement under which assessee-company receives royalty, etc., from any concern in India which is eligible for deduction under the section - Guidelines therefor https://www.taxtmi.com/circulars?id=4542 The Board will approve agreements under section 80MM only where they genuinely provide specified technical know how likely to assist defined productive operations, are entered into on or after 1 April 1969 (with Indian company eligibility rules effective from 1 April 1975), and are not collusive or vague. Composite agreements combining qualifying and non qualifying items will be approved, where practicable, subject to suitable disallowance for non qualifying components; otherwise approval may be refused. Applicants must submit certified copies of the agreement and a detailed proforma of disclosures. Circulars Income Tax Sat, 06 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4542