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Foreign withholding tax

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arnab chakraborty (Querist)

07 October 2013 Hi Experts,

As we deal the various foreign client, we have a substantial amount of foreign withholding tax in our account. My question is that can we treat this entire amount as expenditure in sted of carrying it under Withholding tax category? Is there any other treatment that we can do with it? As per my understanding like the domestic withholding tax it is not refunded and if we are incurring loss we can't adjust the foreign with holding tax.Please help me. It urgent!!

Thanks

PARDEEP KUMAR AGGARWAL

PARDEEP KUMAR AGGARWAL (Expert)

08 October 2013 It is not like that you can't avail its benefit. The country with which we have DTAA, you can take advantage of taxes deposited by foreign companies and you can get refund also.

arnab chakraborty

arnab chakraborty (Querist)

08 October 2013 Thanks..Can you provide the reference of detailed procedure.....

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