Financial Daily from THE HINDU group of publications
Friday, Oct 01, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 01, 2004 |
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Info-Tech
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Taxation Nasscom welcomes CBDT circular on BPO taxation Our Bureau
New Delhi , Sept. 30 THE National Association of Software and Service Companies (Nasscom) has welcomed the Central Board of Direct Taxes (CBDT) circular on business process outsourcing taxation, saying it would help clarify the ambiguity prevailing in the industry. "The Circular incorporates our recommendations to follow the arm's length principle for taxation of captive ITES-BPO units in India," a Nasscom statement said here. It said that the circular has a clear definition of a permanent entity (PE). Other highlights of the circular include conditions of the Double Taxation Avoidance Agreement that provides that if a foreign enterprise carries on business in another country through a PE situated therein, the profits of the enterprise may be taxed in the other country.
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