Tanveer (Salaried) (23 Points)
31 October 2021Hi all, I have started a new technology sales sole proprietorship as I am doing free lancing. So i need to purchase software and security solutions from North American supplier and I need to pay in US$ and CAD$. I want to know about the implication of TDS while making outward remittance and also the purpose code for the payment. Thanking you in anticipation.
CA Aakarsh Jain
(CA)
(10216 Points)
Replied 31 October 2021
Tanveer
(Salaried)
(23 Points)
Replied 31 October 2021
Thank you for the reply Aakash. Also, can you confirm me what can be the purpose code for making the payment.
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 31 October 2021
mahesh
(2 Points)
Replied 10 May 2023
Dear Akarsh,
But what about RCM? Should we pay RCM on the software for it to be allowed as deduction in the books of accounts? Please kindly advise
Regards,
Mahesh
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