https://www.taxtmi.com/circulars?id=5124 For foreign telecasting companies lacking a branch or country-wise accounts, Assessing Officers shall compute taxable income by applying a presumptive profit rate of 10 per cent to gross receipts remitted abroad (after excluding agent commissions), or use the income declared if higher, and tax that amount; tax must be deducted at source under section 195, and voluntary payment of taxes with interest within thirty days will ordinarily avert penalty proceedings. en-us Thu, 02 May 1996 00:00:00 +0530 Wed, 21 Feb 2024 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5124 For foreign telecasting companies lacking a branch or country-wise accounts, Assessing Officers shall compute taxable income by applying a presumptive profit rate of 10 per cent to gross receipts remitted abroad (after excluding agent commissions), or use the income declared if higher, and tax that amount; tax must be deducted at source under section 195, and voluntary payment of taxes with interest within thirty days will ordinarily avert penalty proceedings. Circulars Income Tax Thu, 02 May 1996 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5124