SEO Sai Gr. Hosp.
208776 Points
Joined July 2016
In accordance to section 9 of the Income Tax Act, 1961 ("the Act"), Fees for Technical Services (FTS) is defined as any consideration for the rendering of any managerial, technical or consultancy services" including the provision of services of technical or other personnel.
Dictionary meaning of the same comes to:
Managerial: Services relating to a manager or to the functions, responsibilities, or position of management
Technical: Services relating to, or involving the practical, mechanical, or industrial arts or the applied sciences
Consultancy: the act of offering expert or professional advice in a field