RENT Vs ROYALTY
This query is : Resolved
23 January 2010
Is there any difference between Royalty and Rent??
If there is any please let me know..
THANKS A LOT in advance
If there is any please let me know..
THANKS A LOT in advance
23 January 2010
Rent is an amount which we receive or accrue as rent, for the use of depreciable property used in a trade or business.
Royalty which receive from copyrights on literary, musical, or artistic works and similar property, from a patent on an invention, royalties from oil, gas, or other mineral properties.
Regards
Royalty which receive from copyrights on literary, musical, or artistic works and similar property, from a patent on an invention, royalties from oil, gas, or other mineral properties.
Regards
23 January 2010
The major difference between rent and royalty is as under :
1. Rent is a compensation paid for an asset taken into possession for a specified period "REGARDLESS" of the use of the asset.
2. Royalty is paid on the basis of "USE" of the intellectutl property and/or depreciable assets (like mines).
1. Rent is a compensation paid for an asset taken into possession for a specified period "REGARDLESS" of the use of the asset.
2. Royalty is paid on the basis of "USE" of the intellectutl property and/or depreciable assets (like mines).
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- 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
- TDS on purchase of value vouchers for employees ?
- 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 ?
Trending Online Classes
CAclubindia
