Foreign remmitance (15CB)
This query is : Resolved
27 October 2010
Dear friends,
One of my client has approached me to issue CA certficate(15CB) for foreign remmitance to non resident. The nature of payment is commission. The party(Say X) with whom my client had entered into an agreement and receive invoice is from Bangladesh having no PE in India(no PAN). But the Bangladesh party in his invoice has suggested to make payment to another party(say Y)in singapore.
My query:
1) Whether such remmitance is allowed?
2) If yes, than as remittance is made to Y in singapore on behalf of X in Bangladesh, whether I can issue certificate on Y name?
2) TDS to be deducted at 20%?
One of my client has approached me to issue CA certficate(15CB) for foreign remmitance to non resident. The nature of payment is commission. The party(Say X) with whom my client had entered into an agreement and receive invoice is from Bangladesh having no PE in India(no PAN). But the Bangladesh party in his invoice has suggested to make payment to another party(say Y)in singapore.
My query:
1) Whether such remmitance is allowed?
2) If yes, than as remittance is made to Y in singapore on behalf of X in Bangladesh, whether I can issue certificate on Y name?
2) TDS to be deducted at 20%?
20 May 2011
Yes the same is allowed.
Mention in certificate "Y on behalf of X".
No TDS requirement if pure commission income and no PE of Bangladesh Entity in India.
Anuj
0-9810106211
Mention in certificate "Y on behalf of X".
No TDS requirement if pure commission income and no PE of Bangladesh Entity in India.
Anuj
0-9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- Copyright software
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- TDS LATE PAYMENT
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
