Deduction of tds
This query is : Resolved
Manas Ranjan Mohanty
(Querist)
01 December 2014
I am appointed as individual consultant of USA base company in India. They transferred my monthly consultant fee to my account in HDFC Bank in India. But Foreign Company has not deducted TDS from my consultancy fee.
I am indian citizen. I am working from India for that company in USA. I want to deposit TDS in India.
How I would deposit the TDS in India and what would be percent of TDS and challan no.
Please help me.
Manas
I am indian citizen. I am working from India for that company in USA. I want to deposit TDS in India.
How I would deposit the TDS in India and what would be percent of TDS and challan no.
Please help me.
Manas
CA R SEETHARAMAN
(Expert)
01 December 2014
Fees received from abroad - In respect of fees for professional services received from foreign companies or foreign law and accountancy firms, any fees paid through regular banking channels to any chartered accountant, lawyer, advocate or solicitor who is resident in India by non-residents who do not have any agent or business connection or permanent establishment in India may not be subjected to deduction of tax at source under section 194J.
If you don't fall in to the above catogory remit TDS u/s 194J at 10% in chllan No 281.
If you don't fall in to the above catogory remit TDS u/s 194J at 10% in chllan No 281.
CA R SEETHARAMAN
(Expert)
01 December 2014
Fees received from abroad - In respect of fees for professional services received from foreign companies or foreign law and accountancy firms, any fees paid through regular banking channels to any chartered accountant, lawyer, advocate or solicitor who is resident in India by non-residents who do not have any agent or business connection or permanent establishment in India may not be subjected to deduction of tax at source under section 194J.
If you don't fall in to the above catogory remit TDS u/s 194J at 10% in chllan No 281.
If you don't fall in to the above catogory remit TDS u/s 194J at 10% in chllan No 281.
Rupesh Jain
(Expert)
01 December 2014
IF YOU RECEIVED THE FEE FROM THE FOREEIGN COMPANY THEN THEY DEDUCT THE TAX AS PER THIER COUNTRY LAW. BUT IF THE HAVE INDIAN OFFICE /BUSINESS ESTABLISHMENT THEN YOU HAVE TOT DEDUCT THE TDS IF AMOUNT EXCEEDS RS.30000/- AS SPECIFIE3D U/S 194j.
Manas Ranjan Mohanty
(Querist)
05 December 2014
But I am individual and USA company has no branches in India. I am residing in India. I am not non-resident. Pl. advise how I would deposit TDS
Manas Ranjan Mohanty
(Querist)
05 December 2014
But I am individual and USA company has no branches in India. I am residing in India. I am not non-resident. Pl. advise how I would deposit TDS
CA R SEETHARAMAN
(Expert)
05 December 2014
On behalf of the company you can deposit TDS and file TDS return or you comply with tax requirements so that your company will be relieved from TDS obligations.
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