Forex Remittance
This query is : Resolved
31 July 2010
Dear sir
I have appoint an agent at Taiwan for Purchasing goods Pay on behalf of a company in India and agree to Pay USD 2500 per month but when i send that remittance at bank they ask for 15cb form for tds exemption problem is that when we remit the amount in other countries the TDS is exempted as per Article 7 due their P\E is not in India. but in case of Taiwan India have not any treaties with Taiwan under DTAA. So kindly you can guide me is their any way so i can remit that amount without deducting TDs
Thanks for Reply
But this payment is not for purchase, is for commission because the person is an agent not consignor
I have appoint an agent at Taiwan for Purchasing goods Pay on behalf of a company in India and agree to Pay USD 2500 per month but when i send that remittance at bank they ask for 15cb form for tds exemption problem is that when we remit the amount in other countries the TDS is exempted as per Article 7 due their P\E is not in India. but in case of Taiwan India have not any treaties with Taiwan under DTAA. So kindly you can guide me is their any way so i can remit that amount without deducting TDs
Thanks for Reply
But this payment is not for purchase, is for commission because the person is an agent not consignor
31 July 2010
FOR PURCHASE OF GOODS, NO NEED TO DEDUCT TDS. COLLECT 15CB FROM ANY CHARTERED ACCOUNTANT IN PRACTISE PROVIDED YOU SHOULD HAVE TO SHOW THE INVOICE COPY AND SUBMIT TO THE BANK WITH 15CA.
31 July 2010
Both 15CA & 15CB to be submitted to bank.
31 July 2010
Thanks for your reply sir
But in this case we pay commission to agent against form A2 not payment of consignor or payment of material
But in this case we pay commission to agent against form A2 not payment of consignor or payment of material
31 July 2010
then you have to deduct tds@10%
and if your agent does not have PAN then deduct @20%.
and if your agent does not have PAN then deduct @20%.
31 July 2010
But my CA told for TDS 30% & This is double taxation for that agent
31 July 2010
This deduction is not for India
31 July 2010
Your ca is going to be on safe site.
i think you should consult with your ito regarding confirmation of rate.
But in my openion it should be 10%
Your ca is going to be on safe site.
i think you should consult with your ito regarding confirmation of rate.
But in my openion it should be 10%
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
- About TDS & Income Tax
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
