Taxation of foreign telecasting companiesGuidelines for computation of income-tax, etc.

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....f profits of FTCs from advertisement payments received by them from India. These guidelines were extended till further orders by Circular No. 765, dated 15-4-1998. The Central Board of Direct Taxes hereby withdraws the above Circular with effect from 31-3-2001. 2. The total income of FTCs from advertisements, hitherto computed on a presumptive basis shall now be determined by the Assessing office....