DIVYA GOEL (Audit & Taxation manager) (63 Points)
24 June 2012Suppose 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?
pankitca
(ASST MANAGER ACCOUNTS)
(40 Points)
Replied 28 July 2012
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.
CAclubindia
