tds on Royalty
This query is : Resolved
pankaj kannaujiya
(Querist)
05 June 2009
IF WE ARE PAID ROYALTY TO PARTY AND WE ARE NOT HAVING PARTY ACCOUNT BECAUSE OF HE IS NOT GIVE US THE BILL WE ARE DIRECTLY MADE PAYMENT . SUPPOSE HE IS CROSS THE LIMITE THANE WE ARE DED. A TDS SO HOW WE ARE ACCOUNTED.
CA.BHARAT BHUSHAN
(Expert)
07 June 2009
if you are making payment of royalty, you surely should have details of the person to whom you are paying.You may not have its PAN. But, overall it is ur responsibility to arrange or got PAN from him and Deduct Tax, deposit it and file return accordingly, otherwise, u will be in default.
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