Withholding tax

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satbir (Querist)
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20 May 2016 Dear All

we have imported some software and software Licences from UK.

these licenses were not imported in hard form, just received on e-mail, so bill of entry could not be generated

now my bank is asking for bill of entry for this transaction,

also please help us to know that do we fall in Withholding tax if yes so pls explain.

Regards
Satbir Singh
Appolo Computers

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 May 2016 TDS applicable u/s 195 under royalty payments. Refer the case Cosmic circuits P ltd Vs ITO (2013) 56 SOT 364 (Bangalore).

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satbir

satbir (Querist)
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20 May 2016 Dear Sir,

thanks for information, also please provide the tax rate & interest & penelties on non payments

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 May 2016 TDS applicable at 10%. 1% per month or part there of applicable to wards interest(201(1A). Penalty equivalent to the amount of tax not withheld(271(c).