Assessee Liable for TDS on Re-insurance Premiums to Non-Resident Companies; Profits Taxable in India Under Lloyd's Contracts.

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....TDS liability on re-insurance premium paid by the assessee to the non-resident re-insurance companies - the profit of non-resident re-insurance company or the person in India who has standing contract with underwriters, who are members of the Lloyds, is taxable in India - TDS liability confirmed.....