In some cases I have heard that in case FTS clause in missing, then such FTS income gets taxable un…
In some cases I have heard that in case FTS clause in missing, then such FTS income gets taxable under Other Income clause and not necessarily business income clause...Is it correct?
Kanishka Jan. 31, 2018
In the case of Lanka Hydraulic Institute Ltd., AAR held that in the absence of FTS clause in DTAA, such FTS income will be taxable as per Article 22 of the tax treaty. Article 22 of the tax treaty deals with Residuary Income. The AAR did not examine the situation of business income clause of the treaty.
