"02 January 1991" Archive

Circular No. 588-Income Tax Dated 2-1-1991.

Circular : No. 588-Income tax (02/01/1991)

Circular : No. 588 At present, customs duty is levied on the value of computer software by treating it as a commodity import. The non-resident licenser or seller is also subjected to income-tax on royalty payment for licensing of the software. To avoid this dual levy for exporters, Government has decided that lump sum payment for systems ...

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