US Court Penalty Payments to Government Not Tax Deductible Under Income-tax Act, 1961, Says AAR.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Tds on penalty amount - whether the Penalty Amount payable pursuant to the Final Judgment/Decree of the US Court and paid to the Government of USA/US Court would be liable to tax deduction at source under the provisions of the Income-tax Act, 1961? - Held No - AAR....