With reference to India’s decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities,
which of the following statements is/are correct?
It is introduced as a part of the Income Tax Act
Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the “Double Taxation Avoidance Agreements”.
Select the correct answer using the code given below;
a. 1 only
b. 2 only
c. Both 1 and 2
d. Neither 1 nor 2