Income deemed to accrue in India.

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..... — (a) income from employment, if it is for– (i) service rendered in India ; (ii) service rendered outside India by a citizen of India and the income is receivable from the Government; or (iii) the rest period, or leave period, which precedes, or succeeds, the period of service rendered in India and forms part of the service contract of employment; (b) any dividend paid by a domestic company outside India ; (c) any insurance premium including re-insurance premium accrued from or payable by any resident or non-resident in respect of insurance covering any risk in India ; (d) interest accrued from or payable by any resident or the Government; (e) interest accrued from or payable by any non-resident, if the interest is in respect of any debt in .....

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..... ch are confined to the purchase of goods in India for the purposes of export out of India ; (b) interest accrued from or payable by a resident, in respect of any debt incurred and used for the purposes of— (i) a business carried on by the resident outside India ; or (ii) earning any income from any source outside India ; (c) royalty accrued from or payable by a resident for the purposes of— (i) a business carried on by the resident outside India ; or (ii) earning any income from any source outside India ; (d) royalty consisting of lump sum consideration accrued from or payment made by a resident for the transfer of any rights (including the granting of a licence) in respect of computer software supplied by the non-resident manufacturer, alo .....

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..... he non-resident has a residence or place of business or any business connection in India ; or (d) the income has accrued in India . (6) Where the income of a non-resident, in respect of transfer, outside India, of any share or interest in a foreign company, is deemed to accure in India under clause (d) of subsection (1), it shall be computed in accordance with the following formula— A x B/C Where A = Income from the transfer computed in accordance with provisions of this Code as if the transfer was effected in India ; B = fair market value of the assets in India , owned, directly or indirectly, by the company; C = fair market value of all assets owned by the company. - - statute, statutory provisions legislation, law, enactment, Acts, Rul .....

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