TDS ON ROYALTY
This query is : Resolved
04 April 2010
There is a case. Please reply it. If u ve any judgements on this topic, please post it.
There is amendment in Finance act 2006 on TDS Section 194J for inclusion of royalty for deduction of tax w.e.f july 13, 2006. But assessee had not deduct any tax from payment of royalty in financial year 2006-07, due to new amendment in act and igonrance about it. Payee booked this royalty as his income anh paid tax on his income.
Tell me its consequences.
Whether there is any judgement on it in favour of asseessee, as payee paid tax and there was ignorance of law on part of asseessee, not having intention?
There is amendment in Finance act 2006 on TDS Section 194J for inclusion of royalty for deduction of tax w.e.f july 13, 2006. But assessee had not deduct any tax from payment of royalty in financial year 2006-07, due to new amendment in act and igonrance about it. Payee booked this royalty as his income anh paid tax on his income.
Tell me its consequences.
Whether there is any judgement on it in favour of asseessee, as payee paid tax and there was ignorance of law on part of asseessee, not having intention?
21 March 2011
Yes there is judgment of Hindustan Coca Cola Beverages P.Ltd. which provides that tax cannot be recovered but only interest can be recovered from the deductor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
