Opinion on the Royalty payment to NRI.
This query is : Resolved
09 August 2010
Dear Experts,
Can you please refer me any opinion format on the whether the Royalty payment to NRI by a resident in india is liable to tax and accordingly applicble to TDS.
It's urgent please.
Can you please refer me any opinion format on the whether the Royalty payment to NRI by a resident in india is liable to tax and accordingly applicble to TDS.
It's urgent please.
09 August 2010
Dear Ravi,
Royalty to NRI is taxable u/s 115A of the income tax act 1961 @ 10%. (Surcharge @2.5%, cess @3% is also applicable)
If you are making payment or provision, you required to deduct TDS @ 10.56% (Including surcharge)
Royalty to NRI is taxable u/s 115A of the income tax act 1961 @ 10%. (Surcharge @2.5%, cess @3% is also applicable)
If you are making payment or provision, you required to deduct TDS @ 10.56% (Including surcharge)
09 August 2010
If the non resident who is in receipt of royalty resides in a country with which India has entered into DTAA, then such rates as mentioned in DTAA or rates as per Sec 115A, whichever beneficial to the asseesee will be applicable.
10 August 2010
i hv checked DTAA rates and found that 10% is lowest rate in DTAA
12 August 2010
Then you can go ahead with the DTAA rates.
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