Income tax on foreign company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2013
RESPESTED SIR PLS GUIDE ME TAX TREATMENT ON THIS POINT
FOERIGN COMPANY HAVE 15% SHARE IN INDIAN COMPANY ,NOW THEY ARE SELLING THESE SHARES TO INDIAN COMPANY IN INDIA,AND GOT LONG TERM CAPITAL GAIN.NOW FOREIGN COMPANY HAVE TO PAY LTCG ,BUT INDIAN COMPANY WHILE PAYING SALE PROCEEDS TO FOREIGN COMPANY WILL DEDUCT THE TDS UNDER SECTION 195 AS THE REPRESETATIVE ASSESEE,AND IF TDS PAID BY INDIAN COMPANY ON BEHALF OF FOREIGN COMPANY WILL THIS TDS BE ADJUSTED WILL PAYING LTCG.
FOERIGN COMPANY HAVE 15% SHARE IN INDIAN COMPANY ,NOW THEY ARE SELLING THESE SHARES TO INDIAN COMPANY IN INDIA,AND GOT LONG TERM CAPITAL GAIN.NOW FOREIGN COMPANY HAVE TO PAY LTCG ,BUT INDIAN COMPANY WHILE PAYING SALE PROCEEDS TO FOREIGN COMPANY WILL DEDUCT THE TDS UNDER SECTION 195 AS THE REPRESETATIVE ASSESEE,AND IF TDS PAID BY INDIAN COMPANY ON BEHALF OF FOREIGN COMPANY WILL THIS TDS BE ADJUSTED WILL PAYING LTCG.
15 November 2013
yes. it will be covered under 195 read with the relevant DTAA. the TDS will be adjusted.
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