Business - Briefly   

Microsoft to cough up Rs. 700 cr. as tax

NEW DELHI: Software giant Microsoft has to pay about Rs. 700 crore as income tax, including interest on royalty income generated from sale of software in India. The Commissioner of Income Tax Appeals has held that price charged for use of Microsoft’s software in India is royalty and tax is payable on it.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

ADB pegs India’s growth at 8 p.c.
TCS to set up Pune campus
Majority of Darjeeling tea to go organic
M&M, ICICI Venture to buy Italian company
Citibank offers specialised services for expatriates
BEML pre-tax profit to go up by 11 p.c. to Rs. 350 cr.
Tata Motors to list on Tokyo exchange
Early gains not held on BSE
Exchange Rates
Bullion Rates
New Chairman for MRPL venture
More edibles may be banned from futures
Aegon Religare Life gets IRDA licence
NCDEX to kick start carbon credit futures
Microsoft to cough up Rs. 700 cr. as tax
HZL gets LME registration for zinc
Corporation Bank business at Rs. 95,000 cr.
InterfaceFLOR opens sales, support office
TVS launches electric scooter
Sumantran joins Hinduja Automotive UK
Phillips-Van Heusen pact with Arvind Mills
New MD for Cholamandalam MS General
Roche’s latest software for bloodgas analyzer

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu