COMMISSION ON SALES PAID TO FOREIGN AGENT IN FOREIGN CURRENC

This query is : Resolved

CMA ASHISH (Querist)
Follow

13 May 2009 Hi all,

We are manufacturer of any item in India and exporting goods outside India to various parties as under through an agent e.g. MR.X who is a foreigner, We are paying Commission to Mr.X for Sales done to various parties in India and abroad.

What is the rate of TDS for commission paid to such agent ?

Whether we can pay Foreign Currency as commission to Mr.X ? How?

If there is no TDS on Commission paid to Foreign agent as per Income tax circular no 786 dtd 07-02-2000

Any threshold limit of percentage of commission for paying to foreign agent ?

or

Any threshold limit of commission in INR for paying to Foreign Agent ?

Whether we have to do an agreement or MOU with the foreign Agent or not ?

Please guide me at the case is urgent.

Thanks

taxindiaconnect

taxindiaconnect (Expert)
Follow

13 May 2009 The TDS is not applicable in this case as per circular no 786 as mentioned by you yourself. There is a limit of percentage of sales from FEMA perspective, which you r bank can tell you. A agreement witht the party will definitly be of great help.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anju Susan

Girdhar Harlalka

zafar chandwale

atul kumar soni

T E SOUNDARARAJAN

Subscribe Now

COMMISSION ON SALES PAID TO FOREIGN AGENT IN FOREIGN CURRENC

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Article Assistant

Manager- Finance and Compliance

Accountant

GST CONSULTANCY

CA Final