C forms can be issued for purchase of goods used in telecommunication even if such goods not resold

0 comments Sunday, September 23, 2012

Andhra Pardesh High Court in a very important judgement namely Indus Towers Limited vs Commercial Tax officer has held that C forms can be issued for the purchase of goods used in the telecommunication network even if such goods are not resold.

The Hon'ble High Court held as under:

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Income tax and TDS rate on interest income of Non-resident reduced to 5%

 Interest Income of a Non-Resident Investor will now be taxed at the reduced rate of 5 per cent instead of the existing rate of 20 per cent and withhold Tax on such Income has also been reduced to 5 per cent

Section 194LC of the Income-tax Act, 1961 – Income by way of Interest from Indian Company – Approval of loan agreements/long term infrastructure bonds and rate of interest for the purpose of Section 194LC

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