TDS ON ROYALTY
This query is : Resolved
04 April 2010
There is a case. Please reply it. If u ve any judgements on this topic, please post it.
There is amendment in Finance act 2006 on TDS Section 194J for inclusion of royalty for deduction of tax w.e.f july 13, 2006. But assessee had not deduct any tax from payment of royalty in financial year 2006-07, due to new amendment in act and igonrance about it. Payee booked this royalty as his income anh paid tax on his income.
Tell me its consequences.
Whether there is any judgement on it in favour of asseessee, as payee paid tax and there was ignorance of law on part of asseessee, not having intention?
There is amendment in Finance act 2006 on TDS Section 194J for inclusion of royalty for deduction of tax w.e.f july 13, 2006. But assessee had not deduct any tax from payment of royalty in financial year 2006-07, due to new amendment in act and igonrance about it. Payee booked this royalty as his income anh paid tax on his income.
Tell me its consequences.
Whether there is any judgement on it in favour of asseessee, as payee paid tax and there was ignorance of law on part of asseessee, not having intention?
21 March 2011
Yes there is judgment of Hindustan Coca Cola Beverages P.Ltd. which provides that tax cannot be recovered but only interest can be recovered from the deductor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- TDS on TRUST
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
