Audit of royalty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2012
how to audit and what is the audit programme for the royalty paid to Non resident co?
and also amt paid to NR CO for the stall installation at the Zarmni?
what are thye act provision to be fulfilled?
how & what way the DTAA is palying the inmportant role?
and also amt paid to NR CO for the stall installation at the Zarmni?
what are thye act provision to be fulfilled?
how & what way the DTAA is palying the inmportant role?
13 August 2012
Check forllowing documents & regulations:
1. Royalty Agreement
2. Currency for payment
3. TDS as per DTAA & IT Provisions (PAN)
4. R&D Cess
5. Service tax (associated company prov)
6. TDS deduction & payment (as per booking rate)
7. FEMA Provisions (payment in foreign currency)
8. Check for exemption from registration of royalty agreement with RBI (this is required for payment in foreign currency)
9. Also check the transfer pricing applicability, for your knowledge, as this is not covered under royalty payment
1. Royalty Agreement
2. Currency for payment
3. TDS as per DTAA & IT Provisions (PAN)
4. R&D Cess
5. Service tax (associated company prov)
6. TDS deduction & payment (as per booking rate)
7. FEMA Provisions (payment in foreign currency)
8. Check for exemption from registration of royalty agreement with RBI (this is required for payment in foreign currency)
9. Also check the transfer pricing applicability, for your knowledge, as this is not covered under royalty payment
SANYAM ARORA
(Expert)
13 August 2012
Thanks for the reply
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