Tax Relief to Software industry

The Indian Government has issued a notification on 13 June 2012, pursuant to which tax will no longer be deducted on multi-level software payments made to a resident, subject to certain conditions.

June 22, 2012 / 15:34 IST

The Indian Government has issued a notification on 13 June 2012, pursuant to which tax will no longer be deducted on multi-level software payments made to a resident, subject to certain conditions discussed below. The new provision will come into force from 1 July 2012.

“As a result of the Notification, the Government has provided relief to a number of domestic tax payers in the software industry by doing away with the multi-level domestic withholding tax on software payments,” says Aliff Fazelbhoy, Senior Partner, ALMT Legal.

To read the entire report click on the link below.

first published: Jun 22, 2012 02:21 pm

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