Wednesday, 2 February 2011

Payment to foreign satellites not liable to tax: HC

The Delhi High Court has said that payment to foreign satellite companies are not liable to tax.
The court, thus, gave relief to Hong Kong based-satellite operator AsiaSat, in a ruling that will help broadcast companies.

During the proceeding of the case, taxmen argued that payments made to satellite companies should be taxable and treated as royalty.
However, the HC ruled that broadcast companies can save up to 10-20 per cent in withholding tax, according to business news channel CNBC-TV18.


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