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Income Tax - Highlights / Catch Notes

Home Highlights January 2014 Year 2014 This

Royalty & lump sum fee – The payment of lump sum fees for the ...

Income Tax

January 11, 2014

Royalty & lump sum fee – The payment of lump sum fees for the technical know-how and the royalty is allowable as revenue expenditure - AT

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  1. Valuation - The royalty and lump sum fees paid in relation to manufacture of goods in India cannot be padded on to the declared import value of the impugned goods.

  2. Valuation of imported goods - Inclusion of lump sum and periodical patent and technology know how fee paid - The Tribunal analyzed the provisions of Rule 10 (1) (c) of...

  3. TDS u/s 195 - TDS on overseas payment - Annual Payment made to the international boards through affiliation with IBO, Cambridge etc. under the head authorization fee,...

  4. Payment to overseas institution as fees for awarding the degrees, supplying books and course material – There is no transfer of any technical know-how or technical...

  5. Nature of expenses on Technical know-how fee - such technical know-how was used for the purpose of manufacturing the existing items - held as revenue expenditure - HC

  6. TDS u/s 194J - payment to distributors on revenue sharing basis - neither fee for professional or technical services nor royalty - TDS not deductible - no disallowance...

  7. Disallowance of payments made for royalty and technical know-how received - Accepted Most appropriate method for benchmarking the manufacturing segment as TNNM -...

  8. Travel expenses claimed as a deduction from the technical know-how fees - claim prohibited by Section 115A(3) - specifically prohibited expenses cannot be allowed.

  9. Income accrued In India - 'Royalty' or 'Fees for Technical Services' under Section 9(l)(vi) and 9(l)(vii) - the payment made by SCB to assessee- company does not fall...

  10. The expenditure incurred by the assessee towards royalty and fee for technical assistance in pursuance of the licence agreement were revenue expenditure and not capital...

 

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