Tcs
This query is : Resolved
Manan Vibhakar
(Querist)
11 October 2013
I want to know the provisions of tax collected at sorce on mining activity. My company carries on mining activity of limestone and the mines belong to the govt for which royalty is paid by us. the limestone is used for cement manufacturing. is my company supposed to pay tax cllected at source to the govt on the royalty amount? if yes , then am i supposed to directly deposit in bank or pay to the govt(my creditor)?
CA Sanjeev Kr Jain
(Expert)
13 October 2013
TCS IS DEPOSITED BY SELLER AND TDS IS DEPOSITED BY BUYER
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