Transfer of Technical know-how
This query is : Open
27 November 2010
If an Indian assessee wants to transfer the self generated technical know-how for a lumpsum consideration, will it be taxed as business income or capital gain?
What are the deductions allowed for the same.
What are the deductions allowed for the same.
28 November 2010
It will be taxed under business income. Since it is a self generated assets only business related expenditure is allowed as deduction u/s 37.
Message likes :
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28 November 2010
I totally agree with Mr.Shailesh.
29 November 2010
Thanks. But wont it be considered as a capital gain? since we are parting with it permanently.
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