News Details
India to tax Formula 1 for past three races
India’s Supreme Court has ruled that Formula 1 World Championship Limited (FOWC) has a permanent establishment in India and as such income accruing from it should be taxable. In a long-standing case, India’s apex court has upheld Delhi High Court’s decision to tax three Formula 1 races held in the country between 2011-13. It stated that the Buddh International Circuit, owned by Jaypee Group, served as a ‘permanent establishment’ for conducting business by Formula 1. A permanent establishment in India is defined as any fixed place of business, wholly or partially carried out by a foreign enterprise operating in India. Following the hearing, an assessing officer will decide the...
Full Story »
Full Story »
8y ago from Motorsport.com
0
You May Also Be Interested In...
T-Wings, Fins and Halo ditched by Strategy Group
A constructive meeting of the F1 Strategy Group and F1 Commission took...
8y ago from GrandPrix247.com
Force India preview the Russian Grand Prix
Force India preview the Russian Grand Prix weekend, Round 4 of the 2017...
8y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Aprilia’s MotoGP tech secret: a double duct hidden...
No description available...
6h ago from Motorsport.com
Toprak Razgatlioglu “always sad” over lack of pace...
No description available...
10h ago from Motorsport.com
Fabio Quartararo warns Yamaha MotoGP rebuild could...
No description available...
1d ago from Motorsport.com
Pedro Acosta found Ducati and Aprilia’s pace...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
IOB makes progress but search continues for Managing...
No description available...
4h ago from Motorsport.com
Christian Rasmussen and The Grandstand Project launch...
No description available...
5h ago from Motorsport.com
Paddock optimism for IndyCar’s new independent...
Drivers in the NTT IndyCar Series are largely happy to see the series’...
2d ago from MotorsportWeek.c...
Mick Schumacher gaining confidence on ovals after...
No description available...
3d ago from Motorsport.com
Popular On TotalWRC.com
Hyundai “realistic and optimistic” in mission to...
No description available...
1w ago from Motorsport.com
Oliver Solberg “didn’t deserve more than P4”...
No description available...
1w ago from Motorsport.com
WRC Sweden: Elfyn Evans storms to victory as Toyota...
No description available...
1w ago from Motorsport.com
Elfyn Evans wins Swedish showdown
Elfyn Evans and Scott Martin clinched victory on Rally Sweden which ended...
1w ago from MotorsportWeek.c...
Popular On GunnersToday.com
Tactics Column: Key quartet step up to deliver North...
'It feels like we've shown what we are made of but then you have to show...
1h ago from Arseblog.com
Arsecast Extra Episode 683 – 23.02.2026
Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
4h ago from Arseblog.com
‘Most of us spoke’: crunch talks fired up Arsenal...
t;li>Team meeting led to ‘honest’ exchange, says strikerArsenal now...
5h ago from TheGuardian.com
Ben White faces uncertain future as Arsenal target new...
Questions are beginning to surface over Ben White’s long-term role at...
5h ago from CaughtOffside.com
Comments
Hottest News
Ferrari handed key warning over radical F1 rear wing
Ferrari's radical rear wing could have a major... Read More »
7h ago from RacingNews365.com
What should Fernando Alonso do next after Aston Martin...
Fernando Alonso endured a challenging start to... Read More »
1h ago from RacingNews365.com
Jeremy Clarkson delivers take on new F1 rules with...
Former Top Gear and The Grand Tour host-turned... Read More »
4h ago from MotorsportWeek.com
