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Procedures & Taxation on Royalty Income

Allied Laws - Started By: - Saumil Dave - Dated:- 18-5-2016 Last Replied Date:- 20-5-2016 - Hi Everyone,The company i work for gives out Franchisees and charges a certain percentage or a lump sum amount on its monthly Gross Sales as Royalty Share . In terms of accounting for the same i needed to have a few clarifications/answers for the following: Should we raise a Tax Invoice for the monthly Royalty Charges? If i'm not wrong the only applicable tax on this would be Service Tax once the tota .....

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