Most Important- TDS on IP purchase
We are Indian based co mpany, engaged in the software development. We are going to purchase the Intellectual Property from the foreign company, we have to pay the lum sum payment to get the IP in Foreign Currency.
After purchasing IP the foreign company has no right on the IP, it's our property, intangible property, we can get the royalty now on such IP.
There is any requirement to deduct the Tds on such payment. Please consider the Section 195, 115A and 9 (1) 9b). The company is getting the intangible assets from a foreign company. Please take care it, tell me what the consequences are?
Thanking you!
2 Answers from Attorneys
Re: Most Important- TDS on IP purchase
Yes TDS is deductable. Please contact personally along with the details.
Re: Most Important- TDS on IP purchase
Yes TDS will be deduct on your purchase.For more advice pls contact personally.
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