Collection & Recovery of Equalisation Levy on Specified Service – Section 166, Finance Act, 2016

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... r profession or a non-resident having a permanent establishment in India hereafter in this Chapter referred to as assessee shall deduct the equalisation levy referred to in section 165(1) from the amount paid or payable to a non-resident in respect of the specified service. Rate of equalization levy 6% of the amount of consideration for specified service p .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d limit Equalisation levy is deductible if the aggregate amount of consideration for specified service in a previous year exceeds ₹1 Lakhs. Time period for remittance equalization levy The equalisation levy so deducted during any calendar month shall be paid by every assessee to the credit of the Central Government by the 7th of the mo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X