Alerts & Updates 29th Aug 2018
Recently, the Delhi ITAT in the case of M/s GoDaddy.com LLC vs ACIT has upheld that the receipts earned from internet domain registration fees is taxable as royalty within the meaning of Explanation 2 to section 9(1)(vi) of the Income-tax Act, 1961.
ITAT observed that domain name has all the characteristics similar to a trademark and hence, domain name is an intangible asset. Accordingly, the income earned from registration of domain name is royalty since the same is in the nature of providing services in connection with the use of trademark.
Our Alert on the case is attached herewith. Read more
As per the rules of the Bar Council of India, lawyers and law firms are not permitted to solicit work or advertise. By clicking on the "I Agree" button, you acknowledge and confirm that you are seeking information relating to Economic Laws Practice (ELP) of your own accord and there has been no advertisement, personal communication, solicitation, invitation or any other inducement of any sort whatsoever by or on behalf of ELP or any of its members to solicit any work through this website.