https://www.taxtmi.com/caselaws?id=280801 Consultancy charges paid to a non-resident for expert guidance on forex derivative transactions were treated as fees for technical services under Explanation 2 to section 9(1)(vii) of the Income-tax Act and held chargeable to tax in India because the services were received in India. The receipt was not accepted as business profits, and the DTAA did not exclude taxation on these facts. The retrospective clarification in section 9(2) was treated as clarificatory. Once the payment was taxable, tax deduction at source followed, and disallowance under section 40(a)(i) was attracted. en-us Wed, 23 Jul 2014 00:00:00 +0530 Wed, 22 May 2019 06:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280801 Consultancy charges paid to a non-resident for expert guidance on forex derivative transactions were treated as fees for technical services under Explanation 2 to section 9(1)(vii) of the Income-tax Act and held chargeable to tax in India because the services were received in India. The receipt was not accepted as business profits, and the DTAA did not exclude taxation on these facts. The retrospective clarification in section 9(2) was treated as clarificatory. Once the payment was taxable, tax deduction at source followed, and disallowance under section 40(a)(i) was attracted. Case-Laws Income Tax Wed, 23 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280801