Withholding tax- sec 195, rule 37bb, form 15ca, 15cb

Circulars 1831 views 1 replies

Suppose a partnership firm is making two type of foreign payments:

1 Royalty, License fees

2 For purchase of imported goods

Co. is deducting TDS on royalty & license fees. But it is not filing Form 15CA, 15CB to bank. Bank is also remitting the money without a5CA. Now if case comes under scrutiny, Who will be liable under which section? Please support your views?


Attached File : 741675 1002289 15ca 15cb circular 1 .pdf downloaded: 213 times
Replies (1)

Dear 

You have rightly deducted Withholding tax on Royalty. However on purchase of goods it is not required.

For scrutiny purpose you can show your challan for payment of with holding tax to the authority as compliace of sec 195.

 

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register