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.
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