Oversea Commission
This query is : Resolved
30 September 2008
Dear All
We are paying commission for overseas parties for Sales of our product
IF it will affect withholding tax what is the percentage
We are paying commission for overseas parties for Sales of our product
IF it will affect withholding tax what is the percentage
30 September 2008
We are paying commission for overseas parties for Sales of our product
IF it will affect withholding tax what is the percentage
IF it will affect withholding tax what is the percentage
S.Srinivasaraghavan
(Expert)
30 September 2008
Withholding tax is applicable.Please refer to section 195 of IT ACt.
CA Gaurav Khanna
(Expert)
30 September 2008
the rate of tax will depend upon the amount and the person to whom you are paying
Ravikumar.G
(Expert)
30 September 2008
Further, Refer C.No 786/07.02.2000
Commission paid to a non-resident agent for rendering services outside India, such income does not accrue or arise in India u/s 5 and such payments are not taxable in India and no tax is to be deducted u/s195.
Commission paid to a non-resident agent for rendering services outside India, such income does not accrue or arise in India u/s 5 and such payments are not taxable in India and no tax is to be deducted u/s195.
Ravikumar.G
(Expert)
30 September 2008
TDS Rate u/s 195 :(sec 2(37A))
a) Finance act of the relevant year or
b) DTAA entered by central Govt u/s 90 or
c) Agreement notified by the CG u/s 90A
whichever is most beneficial to the assessee shall apply.
a) Finance act of the relevant year or
b) DTAA entered by central Govt u/s 90 or
c) Agreement notified by the CG u/s 90A
whichever is most beneficial to the assessee shall apply.
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