TDS not applicable on payments for imported Business Information Reports: SC

Director of Income Tax (International Taxation) Vs Dun And Bradstreet Information Services India Pvt. Ltd. (Supreme Court of India) The case before the Supreme Court of India arose from a dispute regarding applicability of tax deduction at source (TDS) under Section 195 of the Income-tax Act, 1961 on payments made for imported Business Information Reports. The assessee had made remittances to Dun & Bradstreet, USA without deducting TDS. The Assessing Officer held that TDS was applicable and passed an order under Sections 195 read with 201, which was upheld by the CIT(A). Read HC Judgment i...