Foreign transaction
This query is : Resolved
MOHD ABDULLAH
(Querist)
13 September 2014
please tell if there is any hardship or there is any tax(Direct/Indirect) implication when any firm provides service to person non resident in india and receives payment through company's bank account from abroad...
please tell all d possibilities occuring solutions too...
CA R SEETHARAMAN
(Expert)
13 September 2014
When service is provided in India service tax is payable and also the income tax.
When the service is provided out side India no service tax is payable but income tax is payable as service provider is resident in India.
When the service is provided out side India no service tax is payable but income tax is payable as service provider is resident in India.
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