India: Taxation of “turnkey” contracts, UK treaty | KPMG | GLOBAL

India: Taxation of “turnkey” contracts, of partnerships under UK treaty

India: Taxation of “turnkey” contracts, UK treaty

The KPMG member firm in India has prepared reports describing the following developments (read more at the hyperlinks provided below).


Related content

  • CBDT clarifies taxability of consortium: The Central Board of Direct Taxes (CBDT) issued guidance that sets out factors for use in determining when a consortium of contractors formed for executing engineering, procurement, and construction projects and “turnkey” contracts will not be treated as an “association of persons” for tax purposes. Read a March 2016 report [PDF 284 KB]
  • India-UK tax treaty benefits: The CBDT clarified that under the income tax treaty with the UK, the treaty provisions apply to a partnership that is a resident of either India or the UK, provided that the income derived by the partnership, estate or trust is subject to tax (either at the partnership or partner level) in the country where the partnership is situated. Read a March 2016 report [PDF 275 KB]

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