Royalty of ₹ 105 lakh received by a foreign company from an Indian concern in pursuance of an agreement approved by the Central Government in the previous year 2017-18. The amount of tax payable on such royalty Income for Asst. Year 2021-22 is:
A. ₹ 10 lakh
B. ₹ 11.13 lakh
C. ₹ 20 lakh
D. ₹ 22.06 lakh
Answer:B
Royalty of ₹ 105 lakh received by a foreign company from an Indian concern in pursuance of an agreement approved by the Central Government in the previous year 2017-18. The amount of tax payable on such royalty Income for Asst. Year 2021-22 is:
A. ₹ 10 lakh B. ₹ 11.13 lakh C. ₹ 20 lakh D. ₹ 22.06 lakh