Tax on dividends, royalty and fees for technical service in case of foreign companies.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e income-tax payable on the total income of a non-resident (not being a company) or of a foreign company, which includes any income specified in the column B of the Table below, shall be the aggregate of income-tax computed at the rate specified in the column C applied on the corresponding income specified in column B. Table Sl.No. Income Rate of Income-tax payable A B C 1.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ion 393(2) (Table: Sl. No. 6). 7. Income received in respect of units, purchased in foreign currency, of a Mutual Fund specified in Schedule VII (Table: Sl. No. 20 or 21) or of the Unit Trust of India. 20% 8. Total income as reduced by income referred to against serial numbers 1 to 7. Rates in force. (2) Where the total income of a non-resident (not being a company) or of a fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e below:-- Table Sl. No. Income Rates of income-tax payable A B C 1. Royalty other than income referred to in section 59(1). 20% 2. Fees for technical services other than income referred to in section 59(1). 20% 3. Total income as reduced by income referred to against serial numbers 1 and 2. Rates in force. (3) Where the royalty referred to in sub....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y any means; (b) "fees for technical services" shall have the meaning assigned to it in section 9; (c) "royalty" shall have the meaning assigned to it in section 9. (5) No deduction in respect of any expenditure or allowance shall be allowed under sections 28 to 58, 60 and 61 and section 93 for computing income referred to in sub-sections (1) and (2). (6) Where the gross to....