Sum paid to Foreign Bank for rendering financial service to raise capital through GDRs not liable to tax as 'FTS'

INTERNATIONAL TAXATION : Amount paid by assessee to a foreign bank for rendering financial services in order to raise capital abroad through issuance of Global Depository Receipts ('GDRs'), was not liable to tax in India as fee for technical services

from www.taxmann.com Latest Case Laws https://ift.tt/32mrWDJ