withholding tax
This query is : Resolved
30 March 2011
An old lady, having taxable income of pension at about Rs.4.00 lacs p.a. has written a book and not wants to get it published in America and then get royalty income on sale of books.
Presntly she want to remit about Rs.1.50 lacs to publihser in America, who does not have any place of business in India. She does not have any TAN number and the foreign publisher does not have PAN.
Under the circumstances, does she required to deduct withholding tax?.
Presntly she want to remit about Rs.1.50 lacs to publihser in America, who does not have any place of business in India. She does not have any TAN number and the foreign publisher does not have PAN.
Under the circumstances, does she required to deduct withholding tax?.
31 March 2011
kindly elaborate the reasons for paying the said sum by old lady. The answer shall depend on the same.
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31 March 2011
Lady want to send the money to publisher for publisher her book in terms of the contract entered into with that publisher. The revenue from sale of books will be shared at 61% share to her as royalty.
With regards
Ashok K.V.Shah
akvshah@gmail.com
+91 98300 75312
With regards
Ashok K.V.Shah
akvshah@gmail.com
+91 98300 75312
31 March 2011
But why the lady shall give money to publish the book.
Anuj
0-9810106211
Anuj
0-9810106211
31 March 2011
For publishing the book, publisher has few package like bronze, silver, gold, platinum etc. with different rates and marketing efforts, advertisement etc. We have opted for one package - gold and need to send money. Once with this efforts, when books is published and starts selling, we will get 61% of sale price and 39% will be shared by publisher.
31 March 2011
In my opinion the same shall not be taxable in India. Kindly make sure to obtain NO PE Certificate from the foreign publisher .
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