Equliasation levy

This query is : Resolved

vaibhav (Querist)
Follow

28 June 2016 Dear Experts, In budget, new concept of equlisation of levy is introduce on receipt of online advertisement related services "specified services" i want to know whether equlisation levy is regarding to like TDS (195 section) or related to service tax.

Sathish M

Sathish M (Expert)
Follow

29 June 2016 It is withholding tax under income tax. In order to tap tax on income accruing to foreign e-commerce companies from India, the Finance Act 2016 provides a person making payment to a non-resident (who does not have a permanent establishment) exceeding in aggregate Rs. 1 lakh in a year will withhold tax at 6 per cent of gross amount paid, as equalisation levy.

The levy will only apply to business to business transactions.

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

velichety.l.narasimharao

Akhila Ajayan

Amit Bagla

GIRISH K SATTI

Ravi

Subscribe Now

Equliasation levy

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANT

Article Assistant

Manager- Finance and Compliance

CA Final

GST CONSULTANCY