Chartered Accountant
412 Points
Posted on 02 September 2020
The type of payments to residents covered under this section are as follows:
1. Professional fees
2. Fees for technical services
3. Remuneration paid to directors excluding salary (For e.g., sitting fees to attend board meetings)
4. Royalty
5. Payments in the nature of non-compete fees (i.e., fees paid to not carry on any business or profession for a specified time and within certain geographical boundaries) or fees paid to not share any technical knowledge or know-how.