The equalization levy would be applicable from a non-resident having permanent establishment in India, on gross consideration payable for a "specified service" at a specified percentage. The applicable rate of equalizati

CS Executive · Tax Laws and Practice · PYQS · December 2018
The equalization levy would be applicable from a non-resident having permanent establishment in India, on gross consideration payable for a "specified service" at a specified percentage. The applicable rate of equalization levy is
(A) 10%
(B) 5%
(C) 2%
(D) 6%

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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