Regarding tds
This query is : Resolved
31 October 2011
X [contractor]
Y [Contractee] between X & Y
contract for excavation
Y paid to x for royalty and x same paid to government.
This is royalty for drill of rock .X does not raised bill for the royalty
X gave receipts to Y for payment and Y paid to X for royalty.
Question: Can we require to deduct TDS on royalty which paid to X and X paid to Government
Can we consider this payment as reimbursement ?
Y [Contractee] between X & Y
contract for excavation
Y paid to x for royalty and x same paid to government.
This is royalty for drill of rock .X does not raised bill for the royalty
X gave receipts to Y for payment and Y paid to X for royalty.
Question: Can we require to deduct TDS on royalty which paid to X and X paid to Government
Can we consider this payment as reimbursement ?
07 November 2011
In my view, the transactions are purely for the payment of Royalty and in a separate account than the Contract A/c, if these are recorded there is no need to Deduct TDS on the above.
07 November 2011
Thanks Bafna Sahib....
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