Dubai: If you are a Non-Resident Indian (NRI) residing in the UAE, and you were wondering if the latest 2021 India Budget resulted in any changes to the 5 per cent tax charge on remittances - that came into effect last October - the answer is no, it hasn t, and the rule still stands.
After a new tax charge was applied on foreign cash remittances since October 1 in India, many have been keeping track and taking note of any extra charge to their remittances. However, does this in any way affect NRIs in the UAE? Let’s revisit this latest change in remittance regulation and find out.
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Live feed from foreign jurisdiction and money earned from that isn’t royalty: Tax ruling
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The tax department on the other hand said that the entire income was taxable in India as per the India-Singapore tax treaty. The tax department levied 10% tax on the consideration and said this amount was nothing but royalty.
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Mumbai: Live feed or live transmission from any other country to India and the money earned from that cannot be defined as royalty, an income tax tribunal has ruled.
As per the regulations royalty has to be subjected to certain taxation in India under transfer pricing framework.