Deduction allowed under Section 80PublicationD for preventive check-up only – Chirag Nangia
Rules requiring foreign companies to store certain types of data in India have opened a front in the country’s quest for ways to tax its booming digital economy. The Reserve Bank of India, the central bank, gave financial companies until October to comply with a policy requiring them to store payment data domestically. A draft bill currently being finalized, meanwhile, requires businesses to store at least a copy of personal data they collect on servers in India.
Chirag Nangia, Director answers the weekly queries for DNA readers.