Tds
This query is : Resolved
30 January 2014
Can any one tell me whether TDS is applicable on Royalty Payment?
30 January 2014
Yes. TDS is applicable u/s 194J- ‘Fees for professional services’
194J. (1) Any person, who is responsible for paying to a resident any sum by way of
(a) fees for professional services, or
(b) fees for technical services [or]
(ba) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company, or
(c) royalty, or
(d) any sum referred to in clause (va) of section 28,]
shall, at the time of credit of such sum to the account of the payee or at the time of payment thereof, whichever is earlier, deduct an amount equal to ten per cent of such sum as TDS.
194J. (1) Any person, who is responsible for paying to a resident any sum by way of
(a) fees for professional services, or
(b) fees for technical services [or]
(ba) any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company, or
(c) royalty, or
(d) any sum referred to in clause (va) of section 28,]
shall, at the time of credit of such sum to the account of the payee or at the time of payment thereof, whichever is earlier, deduct an amount equal to ten per cent of such sum as TDS.
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