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December 2009

Royalties and fees for technology transfer

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Nimesh Dedhia, Vijay Kewalramani
Chartered Accountants
Reading Time 1 mins
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Part D : Miscellaneous

  1. Royalties and fees for technology transfer

The Union cabinet has approved a proposal of the Department
of Industrial Policy & Promotion, Ministry of Commerce & Industry to permit
all payment for royalty, lump sum fee for transfer of technology, payment for
use of trademark/brand name on the automatic route without any restrictions,
and subject to FEMA(Current Account Transaction) Rules, 2000. To get the
information about the nature/details of technology and the amount paid for it,
a suitable post reporting requirement would be devised within three months in
consultation with the Department of Economic Affairs and Reserve Bank of
India.

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