payment to nri havng no pan

This query is : Resolved

Rupesh Jain (Querist)
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30 June 2012 MY CLINT IMPORT A MACHINE FROM JAPAN
FOR INSTALLATION NRI COMPANY CHARGES A HUGE AMOUNT
CLINT DEDUCT TDS @ 10%
BUT NRI HAVE NO PAN OF INDIA
NOW WHAT THE PROCEDURE TO SHOW THIW TRANSACTION IN TDS RETURN

THANKS
RUPESH

CA Vijay Kumar Walande

CA Vijay Kumar Walande (Expert)
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30 June 2012 Dear Rupesh.

For the above case, you please the DTAA with Japan.
Section 195 of IT Act is applicable for the above case. Since there is a remittance outside INDIA is invloved.

Now as far as TDS rate is concerned. The rate shall be the lower of 20% or rate prescribed in DTAA.

You can refer the DTAA with relevant country for DTAA rate.

The procedure is
You get a certificate from a CA in form 15 CB then file 15CA online then submitt in duplicate the above forms to the remitting bank.

As far as tds return is concerned . Yes, you need to file a quarterly return showing the payment made and tax deducted with relevant details in Form 27Q.

Rupesh Jain

Rupesh Jain (Querist)
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30 June 2012 but NRI CO. HAVE NO PAN UNDER INDIAN INCOME TAX ACT,
CAN CLINT LIABLE TO DEDUCT TDS @ 20% DUE TO PAN NOT AVAILABLE WITH NRI COMPANY

gbalakrishnan

gbalakrishnan (Expert)
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30 June 2012 you apply for pan number with your residential address in india and then you are given Pan!

CA Vijay Kumar Walande

CA Vijay Kumar Walande (Expert)
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03 July 2012 Yes! Client is liable to deduct Tax@ 20% in case he has no PAN card.

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