Taxation of foreign telecasting companiesGuidelines for computation of income-tax, etc.

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..... for the computation of profits of FTCs from advertisement payments received by them from India. These guidelines were extended till further orders by Circular No. 765, dated 15-4-1998 . The Central Board of Direct Taxes hereby withdraws the above Circular with effect from 31-3-2001. 2. The total income of FTCs from advertisements, hitherto computed on a presumptive basis shall now be determin .....

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..... d with section 9 of the Income-tax Act, 1961 . 3. It may be reiterated that the guidelines for computation of profits of FTCs in Circular No. 742 and 765 were applicable only to the income stream from advertising. Other kinds of income like subscription charges receivable from cable operators in respect of pay channels and income from the sale or lease of decoders, etc., shall continue t .....

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