Tax collection at source on use rights requires licensors and lessors to collect tax on specified facilities. Tax collection at source applies at 2% to consideration received for granting the right to use a parking lot, toll plaza, mine or quarry. The licensor or ... Summary
Tax collection at source on use rights requires licensors and lessors to collect tax on specified facilities.
Tax collection at source applies at 2% to consideration received for granting the right to use a parking lot, toll plaza, mine or quarry. The licensor or lessor must collect the tax in licence and lease arrangements. Mining or quarrying of mineral oil, including petroleum and natural gas, is excluded. No monetary threshold applies, and the existing scope, rate and collection mechanism are retained.
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