5 points on 5/20 Rule of Indian Civil Aviation

The Ministry of Civil Aviation has come up with a Draft Civil Aviation Policy seeking comments on the controversial 5/20 rule – 5 years of flying experience & 20 aircraft fleet for Indian Airlines to be eligible to fly abroad – continue, scrap or replace with a complex system of Domestic Flying Credits. It also…

TAXATION OF ROYALTY AND FEES FOR TECHNICAL SERVICES – 1

Section 115A – Specified Rate on Payment of Royalty or Fees for Technical Services to Non-Residents (pdf) Section 115A(1)(b) provides a specified rate of Tax in case :- Eligible Assessee (Recepient) Non-resident (not being a company) or A Foreign Company Nature of Income Royalty or Fees for Technical Services (FTS) Exclusion – Income referred to…