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India - Taxation of Income from a Composite Contract for a Turnkey Project

Country:
India
Author:
D. Verma
Issue:
Asia-Pacific Tax Bulletin, 2019 (Volume 25), No 2
Published:
12 March 2019
In this article, the author reviews the legal provisions and landmark court decisions relating to the taxation of income from a composite contract entered into by a foreign company. He delineates the uncertainties surrounding the tax liability from such projects, which is the subject of much litigation. He concludes that a foreign company’s tax liability arising from the offshore supply and offshore services component of the composite contract is fairly settled, provided that the contractual documents are carefully drafted.
 
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