Taxability of income of non resident contractors engaged by resident organisations.

Taxability of income of non resident contractors engaged by resident organisations. https://www.taxtmi.com/circulars?id=9758 Non-resident contractors' income from turnkey oil and gas contracts must be apportioned between activities abroad and activities in India; income attributable to installation, hook-up and commissioning performed in India is taxable in India, and where sale occurs in India a portion of the profits attributable to the sale is also taxable. A prescribed method allocates a fixed proportion of gross receipts as net income and designates a smaller proportion of that income to the sale element; fees for technical services are excluded from these guidelines and taxed under treaty or statutory rules. Application requires the non-resident's agreement and is time limited. en-us Wed, 01 Jul 1987 00:00:00 +0530 Wed, 08 Jun 2011 18:13:00 +0530 TaxTMI RSS Generator Taxability of income of non resident contractors engaged by resident organisations. https://www.taxtmi.com/circulars?id=9758 Non-resident contractors' income from turnkey oil and gas contracts must be apportioned between activities abroad and activities in India; income attributable to installation, hook-up and commissioning performed in India is taxable in India, and where sale occurs in India a portion of the profits attributable to the sale is also taxable. A prescribed method allocates a fixed proportion of gross receipts as net income and designates a smaller proportion of that income to the sale element; fees for technical services are excluded from these guidelines and taxed under treaty or statutory rules. Application requires the non-resident's agreement and is time limited. Circulars Income Tax Wed, 01 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9758