Dear all,
A company is receiving professional service from srilanka,
Wether the company has to Deduct Tax at Source on payment? if so,
What is the rate and procedure for this?
and which form to be issued?
Regards
Ravikumar R C
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TDS on foreign service
Replies (1)
Professional Service Rendered by a foreign entity is subject to tax. If recipent is non domestic company then Rate would be 52.7875% , if the recipent is a non resident non corporate person then rate would be 33.99%.
However if the foreign entity does not have any permanent establishment in India & has a double taxation avoidane agreement, TDS may not be applicable on production of Certificate u/s 195 from a Chartered Accountant.
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