Case Law Details
Case Name : FCC Co. Ltd. Vs ACIT (ITAT Delhi)
Related Assessment Year : 2017-18
Courts :
ITAT Delhi
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FCC Co. Ltd. Vs ACIT (ITAT Delhi)
ITAT Delhi held that levy of surcharge and cess cannot exceed the tax rate of 10% as per India – Japan DTAA. Accordingly, as per article 12 of India – Japan tax treaty the tax to be charged on royalty and FTS shall not exceed 10% of the gross amount of royalty or FTS.
Facts- The assessee is a non-resident corporate entity incorporated in Japan and a tax resident of Japan. In the year under consideration, the assessee had entered into various international transact
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Author Bio
ITR 2 Form, in computing tax liability , has no provision for exclusion of surcharge and cess over special rates of DTAA at maxm limit for NRI.
How can NRI after considering maxm tax rate of 15% on interest income from India
eliminate charging of surcharge and cess while filing ITR 2