Special provision for computing income by way of royalties etc. in case of Non-residents and Foreign Companies - (New) Section 59 / (Old ) Section 44DA

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....26 ] Conditions for Taxation under "Profits and Gains of Business or Profession" [ Section 59(1) ] Income in the nature of royalty or fees for technical services received by a Non-Resident (Not being a company) or a Foreign Company shall be taxable under "Profits and Gains of Business or Profession" during the tax year,  if the following conditions are satisfied:-- â....

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....€¢ (a) any expenditure or allowance which is not wholly and exclusively incurred for the business of such permanent establishment or fixed place of profession in India; or • (b) amounts, if any, paid (otherwise than towards reimbursement of actual expenses) by the permanent establishment to its head office or to any of its other offices. Exception This section does not apply....

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....ired to be furnished under section 59(4), shall be in Form No. 24. Under Section 44DA of the Income Tax Act, 1961 [ Upto 31.03.2026 ] • Section 44DA provides that income by way of royalty or fees for technical services received by non-residents and foreign companies from  the Govt. or an Indian concern, will be computed on a net income basis i.e. after allo....