Commission to NRI

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sanish p balan (Querist)
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30 August 2010 Sir please tell me whether a Proprietor, who is not liable to TAX Audit, is responsible to deduct TDS when he is making a payment to NRI as a Commission in excess of Rs. 2500?????

CA Sanat Pyne

CA Sanat Pyne (Expert)
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30 August 2010 NO HE IS NOT LIABLE TO DEDUCT TDS.

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sanish p balan

sanish p balan (Querist)
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30 August 2010 Sir,

If an NRI invest In Commodity Market, which is Controlled by Multi Commodity Exchange (MCX) in India and earns income on that investment then tell me please sir whether he is liable to pay tax in india??? and how???

Whether NRI can claim this income as deduction as per Section 36(1)XVI

k c joseph varghese

k c joseph varghese (Expert)
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31 August 2010 deduction of tax at source for payments to non residents is covered by section 195 of the I.T act which uses the word "any person" and hence you have to deduct tax at source

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