Sharing the key extracts of the important decision of Indian Supreme Court pronounced today on the issue of taxation of software related payments.
It was a heavily contested issue at almost all forums for more than a decade now and finally settled today in a very elaborative order wherein the Apex Court has tried to address all possible issues raised by both sides considering the interplay of tax laws with Copyright Act. The observations of Court would have far reaching implications on multiple other interpretation related issues under interntl tax.
This should provide suitable relief to both payees and payers and give a strong positive message to the business community as a whole.