Amount paid to foreign company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2013
Sir
i am working in PSU where our company has given a contract to a non-resident company for supply of plant and machinery.and foreign company has given lower deduction certificate u/s 197 of Income Tax Act. our PSU is paying money in Indian currency. we are currently deducting TDS in U/s 195 on income tax.
whether we are correct or not. please guide me form no 15CA and 15CB will be applicable in in this case?
i am working in PSU where our company has given a contract to a non-resident company for supply of plant and machinery.and foreign company has given lower deduction certificate u/s 197 of Income Tax Act. our PSU is paying money in Indian currency. we are currently deducting TDS in U/s 195 on income tax.
whether we are correct or not. please guide me form no 15CA and 15CB will be applicable in in this case?
02 August 2013
yes currently you are correctly deducting u/s 195.
CA. Anuj Gupta
(Expert)
28 October 2013
Yes you shall be required to comply with 15CA/CB provisions.
Anuj
femaquery@gmail.com
Anuj
femaquery@gmail.com
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