We sell software and some of our customers are based in India. We have not yet succeeded in obtaining a PAN number and witholding tax is usually levied by the at 20%. We have recently been asked to complete a Minimum Alternate Tax declaration form by one of our Indian customers. This seems to be a promise to pay income tax on the income we receve from India. I am assuming that given that the remaining income after witholding tax will be subject to UK Corporation Tax, then we are covered. Can anyone confirm or comment? Many thanks
24th Aug 2015
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Can anyone explain Indian Minimum Alternate Tax
Can anyone explain Indian Minimum Alternate Tax