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The due date of filing an income tax return has been changed to 31st October from the FY 2020-21 (AY 2021-22) in Budget 2020 for
This provision is applicable for Non-Resident Indians, in the case of income arising by way of royalties & fees for technical services. First of all, let’s understand important terms in relation to this section:
Royalty as defined under section 9(1)(vi) of the Income Tax Act 1961 means any lump sum consideration given for:
1 | Transfer of any or all rights in relation to (The transfer of rights under this section also includes granting of a licence) |
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2 | Imparting any information concerning the use or working of | |
3 | Use of any | |
4 | Imparting any information relating to |
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5 | Use or right to use (but not including those referred to in section 44BB) |
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6 | Transfer of any or all rights in relation to (The transfer of rights under this section also includes granting of a licence) |
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7 | Rendering of any services | In specified cases |
Exclusion : Following shall not be treated as royalty :
Section 9(1)(vii) defined Fees for Technical services as any consideration or lump sum consideration for the rendering of any
"Fees for technical service" does not include
Now moving further, let’s understand
As per section 92F (iiia) of Income Tax Act, 1961,Permanent establishment" includes a fixed place of business through which the business of the enterprise is wholly or partly carried on.
Section 44DA is applicable in case
The income of such assessee shall be computed under the head ‘Profit and gains of business or profession’ as per the provisions of this act provided no deduction in respect of following payments shall not allowed :
Income under this section shall be chargeable to income tax as per normal slab rates applicable on assessee.
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