Our Company is making royalty payment to foreign Company.
We are deducting TDS on the same.My question is do we also need to deduct education cess and SHEC??
Regards
Priya
Priya Sharma (Company Secretary & Student.MBA) (998 Points)
23 July 2010Our Company is making royalty payment to foreign Company.
We are deducting TDS on the same.My question is do we also need to deduct education cess and SHEC??
Regards
Priya
CA Amit Kanani
(Practicing CA)
(338 Points)
Replied 23 July 2010
not require. It require only in case of salary.
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 23 July 2010
dear priya
according to finance act 09 amendments there is no need to deduct cess amount on tds if the payment is made to resident tax payers.ur case is not covered under here.so u are required to deduct surcharge(if exceed rs.10000000) and cess amount as per my knowledge.
regards
tarun rustagi
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
