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Royality payments

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(Querist)
24 April 2009 In case a company enters in to agreement with a company / individual outside India, then what is the procedure to pay royality and from which departm,ent permission is required. Is the agreement between two is also to be got approved
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CA Devin

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CA Devin (Expert)
24 April 2009 For making the payments to non-residents/foreign companies the person making the remittance has to give an undertaking to the authorised dealer/bank that he proposes to remit the necessary amount after deduction of tax at source at the appropriate rates along with a Chartered Accountant’s certificate that tax has been deducted at source at the appropriate rate and has been paid to the credit of the Government.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 April 2009 The required forms are form 15CA and 15 CB. For the said forms pl see https://law.incometaxindia.gov.in/TaxmannDit/DisplayPage/formspg.aspx?smd=3
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