Tuesday, March 15, 2011

IT ONSHORE REVENUES IS TAXABLE

The finance ministry confirmed that revenues from onshore work done by Information Technology (IT) companies would not be considered for tax exemptions under 10A/10B/10AA of the income Tax Acts , 1961. Onshore software development is the practice where in Indian companies send their software engineers on short assignments (3-6 months) to companies based in Europe, the US and other nation.

0 comments:

Post a comment