TaxTMI 
TaxTMI 
Income deemed to accrue or arise in India.
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....y-- (i) the Government; (ii) a resident, except where it is payable in respect of any debt incurred, or moneys borrowed and used, for- (A) a business or profession carried on by that person outside India; or (B) making or earning any income from any source outside India; or (iii) a non-resident, if it is in respect of any debt incurred, or moneys borrowed and used, for the purposes of a business or profession carried on by that non-resident in India, shall be deemed to accrue or arise in India; (b) for the purposes of clause (a)(iii),-- (i) any interest payable by the permanent establishment in India of a non-resident person engaged in the business of banking, to the head office or any other permanent establishment or any other part of such non-resident outside India shall be deemed to accrue or arise in India; (ii) shall be chargeable to tax in addition to any income attributable to the permanent establishment in India; and (iii) the permanent establishment in India shall-- (A) be deemed to be a person separate from, and independent of, the non-resident person of which it is a permanent es....
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....; (c) for the purposes of clause (b),-- (i) the transfer or grant of all or any rights in respect of any right, property or information includes transfer or grant of all or any right for use or right to use a computer software (including granting of a licence) irrespective of the medium through which that right is transferred; (ii) royalty includes consideration in respect of any right, property or information, whether or not-- (A) the possession or control of that right, property or information is with the payer; (B) that right, property or information is used directly by the payer; (C) the location of that right, property or information is in India; (iii) the expression "process" includes transmission by satellite (including up-linking, amplification, conversion for down-linking of any signal), cable, optic fibre or by any other similar technology, whether or not that process is secret; (iv) the expression "computer software" means any computer programme recorded on any disc, tape, perforated media or other information storage device and includes any such programme or any customised electronic data. (7)(a) Incom....
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....mon control, as that non-resident; (ii) a business activity carried out through a person who is a broker, general commission agent or any other agent, through whom such activity is carried out, and who is working mainly or wholly on behalf of-- (A) a non-resident (referred to as the principal non-resident); or (B) such non-resident and other non-residents who- (I) are controlled by the principal non-resident; or (II) have a controlling interest in the principal non-resident; or (III) are subject to the same common control as the principal non-resident, and such person shall not be deemed as having an independent status; (c) in of clause (a), a business carried out in India shall not include any business activity or operations-- (i) carried out through a broker, general commission agent or any other agent having an independent status, if such broker, general commission agent or any other agent is acting in the ordinary course of his business; (ii) which are confined to-- (A) the purchase of goods in India for the purposes of export out of India; or (B) the collection of news and vie....
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....om a person who resides in India or from a person who uses internet protocol address located in India; and (iii) sale of goods or services using data collected from a person who resides in India or from a person who uses internet protocol address located in India. (9) In sub-section (2)(d)-- (a) an asset or a capital asset, being any share of, or interest in, a company or entity registered or incorporated outside India shall be deemed to be situated in India, if the share or interest derives, directly or indirectly, its value substantially from the assets (whether tangible or intangible) located in India; (b) the share or interest, referred to in clause (a), shall be deemed to derive its value substantially from the assets (whether tangible or intangible) located in India, if on the specified date, the value of such assets,-- (i) exceeds the amount of ten crore rupees; and (ii) represents at least 50% of the value of all the assets owned by the company or entity, as the case may be; (c) the value of an asset shall be the fair market value on the specified date of such asset without reduction of liabilities, if any, in respect....
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....ntity registered or incorporated outside India,-- (i) if such share of, or interest in, a company or an entity registered or incorporated outside India is held by a non-resident by way of investment, directly or indirectly,-- (A) in Category I or Category II foreign portfolio investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, prior to their repeal, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992); (B) in Category I foreign portfolio investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992); (ii) if such company or entity directly owns the assets situated in India and the transferor (whether individually or along with its associated enterprises), at any time in the twelve months preceding the date of transfer,-- (A) does not hold the right of management or control in relation to such company or the entity; and (B) does not hold voting power or share capital or interest exceeding 5%, of the total voting power or total share ....