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Income Tax - Highlights / Catch Notes

Home Highlights February 2013 Year 2013 This

Royalty income earned from the OEMs on network equipment -In ...

Income Tax

February 10, 2013

Royalty income earned from the OEMs on network equipment -In view of the specific clauses in the agreement between OEM's and Indian parties, it is clear that the software didn't have an independent use and is a integral part of the hardware without which the hardware cannot function. The software supplied was a copyrighted article and not a copyright right - Not taxable u/s 9 - AT

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  1. Income deemed to accrue or arise in India - non-resident corporate entity - Taxability of royalty income received by the assessee on subscribers units from original...

  2. Income deemed to accrue or arise in India - Royalty receipt - Voice Interconnect Services (IUC) - the installation and operation of sophisticated equipments are with the...

  3. Consideration received by the assessee on sale of software is not chargeable to tax as royalty such as equipment royalty, process royalty etc - AT

  4. Payments for the equipment and spare parts – Royalty u/s 9(1)(vi) - there is no transfer of rights - not taxable as royalty - HC

  5. Where exclusive possession and effective control of the equipment is to be transferred to the lessee, no Serive Tax under clause 65(105)(zzzzj)

  6. Exploration/ prospecting/extraction of mineral oil - income arising on account of royalty/FTS, letting out of equipment etc. was to be taxed u/s 44BB - Income on account...

  7. TDS u/s 195 - Royalty - providing of services to use of equipment and right to use equipment - There mere fact that there were certain technical inputs or that the...

  8. Rate of tax - royalty income earned by the assessee from its Indian Associated Enterprises, pursuant to an agreement dated 01-04-2008, should be charged to tax at 10.5060%.

  9. Revenue earned from supply of software and rendering of maintenance and professional services to customers located in Sri Lanka and Middle East as “Royalty/ FTS/ FIS” -...

  10. Transactions under a software license agreement - The license charges earned by assessee was not liable to be treated as royalty.

 

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