Withholding tax
This query is : Resolved
20 May 2016
Dear All
we have imported some software and software Licences from UK.
these licenses were not imported in hard form, just received on e-mail, so bill of entry could not be generated
now my bank is asking for bill of entry for this transaction,
also please help us to know that do we fall in Withholding tax if yes so pls explain.
Regards
Satbir Singh
Appolo Computers
we have imported some software and software Licences from UK.
these licenses were not imported in hard form, just received on e-mail, so bill of entry could not be generated
now my bank is asking for bill of entry for this transaction,
also please help us to know that do we fall in Withholding tax if yes so pls explain.
Regards
Satbir Singh
Appolo Computers
20 May 2016
TDS applicable u/s 195 under royalty payments. Refer the case Cosmic circuits P ltd Vs ITO (2013) 56 SOT 364 (Bangalore).
Message likes :
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20 May 2016
Dear Sir,
thanks for information, also please provide the tax rate & interest & penelties on non payments
thanks for information, also please provide the tax rate & interest & penelties on non payments
20 May 2016
TDS applicable at 10%. 1% per month or part there of applicable to wards interest(201(1A). Penalty equivalent to the amount of tax not withheld(271(c).
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