No TDS deduction on payment of Shipping Line Charges in case of Import
This query is : Resolved
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02 June 2023
Dear Sir/ Madam,
May I please know why TDS in NOT deducted on Payment of Shipping Line Charges in case of Import ?
Thank you,
Rachana
May I please know why TDS in NOT deducted on Payment of Shipping Line Charges in case of Import ?
Thank you,
Rachana
03 June 2023
Section 172 deals with shipping business of non-residents. Section 172(1) provides the mode of the levy and recovery of tax in the case of any ship, belonging to or chartered by a nonresident, which carries passengers, livestock, mail or goods shipped at a port in India. An analysis of the provisions of section 172 would show that these provisions have to be applied to every journey a ship, belonging to or chartered by a non-resident, undertakes from any port in India. Section 172 is a self-contained code for the levy and recovery of the tax, shipwise, and journeywise, and requires the filing of the return within a maximum time of thirty days from the date of departure of the ship.
The provisions of section 172 are to apply, notwithstanding anything contained in other ‘ provisions of the Act. Therefore, in such cases, the provisions of sections 194C and 195 relating to tax deduction at source are not applicable. The recovery of tax is to be regulated, for a voyage undertaken from any port in India by a ship under the provisions of section 172.
The provisions of section 172 are to apply, notwithstanding anything contained in other ‘ provisions of the Act. Therefore, in such cases, the provisions of sections 194C and 195 relating to tax deduction at source are not applicable. The recovery of tax is to be regulated, for a voyage undertaken from any port in India by a ship under the provisions of section 172.
12 June 2023
Dear Sir,
Thank You for explanation.
Thank You for explanation.
12 June 2023
You are welcome..
..
..
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