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of <h1>Indian Supreme Court Confirms Cross-Border Software Payments as 'Royalty', Enforces Tax Deduction Under Income Tax Act.</h1> The Supreme Court of India reaffirmed the precedent set in the Engineering Analysis Centre of Excellence case, determining that payments for cross-border software transactions are considered 'royalty' and subject to tax deduction at source under the Income Tax Act. Despite a pending review petition against the earlier judgment, the court dismissed a challenge to its applicability, emphasizing the binding nature of the precedent. This decision underscores the importance of legal certainty and finality, preventing ongoing disputes over settled matters. The ruling holds significant implications for the IT industry and multinational corporations regarding compliance with tax obligations on software payments.
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