is tds dedutible on payments made by Foreign Investor
This query is : Resolved
Manoj Baby Daniel
(Querist)
05 January 2010
when Foreign institutional investor makes payment to a CA for professional services rendered in india, is tds deductible while making payment.?
Note the FII doesnt have PE in india nor opertions except for the investment they make in the indian stock markets through their custodian bank
Note the FII doesnt have PE in india nor opertions except for the investment they make in the indian stock markets through their custodian bank
05 January 2010
TDS is deductible.
TDS section mainly focuses on the residential status of the deductee.
The CA Firm (deductee) is resident in India.
So TDS is applicable
TDS section mainly focuses on the residential status of the deductee.
The CA Firm (deductee) is resident in India.
So TDS is applicable
Manoj Baby Daniel
(Querist)
06 January 2010
YOU ARE WRONG MR BHAVESH
In respect of fees for professional services received from foreign companies or foreign law and accountancy firms, any fees paid through regular banking channels to any chartered accountant, lawyer, advocate or solicitor who is resident in India by non-residents who do not have any agent or business connection or permanent establishment in India may not be subjected to deduction of tax at source under section 194J.—Circular : No. 726, dated 18-10-1995
In respect of fees for professional services received from foreign companies or foreign law and accountancy firms, any fees paid through regular banking channels to any chartered accountant, lawyer, advocate or solicitor who is resident in India by non-residents who do not have any agent or business connection or permanent establishment in India may not be subjected to deduction of tax at source under section 194J.—Circular : No. 726, dated 18-10-1995
06 January 2010
Reading the Circular, it seems that I may be wrong.
I accept it.
Thanks for updating my info.
I accept it.
Thanks for updating my info.
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