Tds on royalty to foreign co if foreign co have pan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2014
Dear All,
Please confirm what will be TDS rate on payment of royalty fees to UK based company but also registered in India and have PAN,
i was deducted @10% but received notice from TDS deptt of short deduction and showing in justification report TDS rate @ 25.75%
please guide.
Please confirm what will be TDS rate on payment of royalty fees to UK based company but also registered in India and have PAN,
i was deducted @10% but received notice from TDS deptt of short deduction and showing in justification report TDS rate @ 25.75%
please guide.
28 March 2014
u need to deduct tds @ 20% + cess =25.75 as per sec 195.
Nikhil Kaushik
(Expert)
29 March 2014
it seems you have deducted TDS under Article 13(2)(b). If that is so, then you are correct. However, it shall depend on how you reflected it in the notice. Incorrect disclosure in Form 27Q might have resulted in such a short-deduction notice.
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