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[Section 115A] [Complete Act]
Central Government Act
Section 115A(a) in The Income- Tax Act, 1995
(a) a non- resident (not being a company) or of a foreign company, includes any income by way of--
(i) dividends; or
999999. the rate of twenty- five per cent;] (ii) 8 the amount of income- tax calculated on the income by way of royalty, if any, included in the total income, at the rate of thirty per cent;] (iii) the amount of income- tax calculated on the income by way of fees for technical services, if any, included in the total income, at the rate of 9 thirty per cent]; and (iv) the amount of income- tax with which it would have been chargeable had its total income been reduced by the amount of income referred to in clause (a), 10 clause (aa)] and clause (b). Explanation.- For the purposes of this section,- (a)" fees for technical services" shall" have the same meaning as in 11 Explanation 2] to clause (vii) of sub- section (1) of section 9; 12 13 (b)]" foreign currency" shall have the same meaning as in the Explanation below item (g) of sub- clause (iv) of clause (15) of section 10;] (c)" royalty" shall have the same meaning as in 14 [ Explanation 2] to clause (vi) of sub- section (1) of section 9."
1. Substituted for" sub- section (2)" by the Finance (No. 2) Act, 1977, w. e. f. 1- 4- 1978.
2. Inserted by the Finance Act, 1983, w. e. f. 1- 6- 1983.
3. Inserted by the Direct Tax Laws (Amendment) Act, 1989, w. e. f. 1- 4- 1989.
4. Substituted by the Finance Act, 1983, w. e. f. 1- 6- 1983. Prior to the substitution, clause (b) read as under." (b) royalty or fees for- technical services received from an Indian concern in pursuance of an agreement made by the foreign company with the Indian concern after the 31st day of March, 1976, and approved by the Central Government;"
5. Substituted for" such agreement is approved by the Central Government" by tile Finance Act, 1992, w. e. f. 1- 6- 1992.
6. Inserted by the Finance Act, 1983, w. e. f. 1- 6- 1983.
7. Inserted by the Direct Tax Laws (Amendment) Act, 1989, w. e. f. 1- 4- 1989.
8. Substituted by the Finance Act, 1986, w. e. f. 1- 4- 1987. Prior to the substitution, clause (ii) read as under:" (ii) the amount of income- tax calculated on the income by way of royalty, if any, included in the total income- (1) on so much of the amount of such income as consists of lump sum consideration for the transfer outside India of, or the imparting of information outside India in respect of, any data, documentation, drawing, or specification relating to any patent, invention, model, design, secret formula, or process or trade mark or similar property, at the rate of twenty per cent; (2) on the balance of such income, if any, at the rate of forty per cent;"
9. Substituted for" forty per cent", ibid.
10. Inserted by the Finance Act, 1983, w. e. f. 1- 6- 1983.
11. Substituted for" the Explanation" by the Finance (No. 2) Act, 1977, w. e. f. 14- 1977.
12. Inserted as clause (bb) by the Finance Act, 1983, w. e. f. 1- 6- 1983.
13. Relettered for" (bb)", ibid. Clause (b), as originally enacted, and omitted by the Direct Tax Laws (Amendment) Act, 1989, read as under:" (b)" foreign company" shall have the same meaning as in section 80B;"
14. Substituted for" the Explanation" by the Finance (No. 2) Act, 1977, w. e. f. 1- 4- 1977 ."
(ii) interest received from Government or an Indian concern on monies borrowed or debt incurred by Government or the Indian concern in foreign currency; or
(iii) income received in respect of units, purchased in foreign currency, of a Mutual Fund specified under clause (23D) of section 10 or of the Unit Trust of India, the income- tax payable shall be aggregate of-
(A) the amount of income- tax calculated on the amount of income by way of dividends, if any, included in the total income, at the rate of twenty per cent;
(B) the amount of income- tax calculated on the amount by. way of interest referred to in clause (ii), if any, included in the total income, at the rate of twenty per cent;
(C) the amount of income- tax calculated on the income in respect of units referred to in clause (iii), if any, included in the total income, at the rate of twenty per cent; and
(D) the amount of income- tax with which he or it would have been chargeable had his or its total income been reduced by the amount of income referred to in clause (i), clause (ii) and clause (iii);