Rent of equipments received by foreign Co. from Indian Co.
This query is : Resolved
17 February 2021
If a foreign Company (does not have PE in india) receives amount by way of renting of equipments from an Indian Company after deduction of tax @10%. In which head of income such amount shall be shown In ITR form?
17 February 2021
It's income from providing services under business and professional income.
17 February 2021
Sir.. Company has deducted 10% u/s 195.
Will tax rate differ when we will file ITR show this rent income under PGBP.
Will tax rate differ when we will file ITR show this rent income under PGBP.
17 February 2021
No specific rate of TDS for this income. You will not face any problem.
17 February 2021
I mean.. When I'll show this income in PGBP, at how much rate tax will be levied?
17 February 2021
Foreign company 40% tax will be levied.
17 February 2021
No sir.. 40% is levied when co. Has Permanent established in India.
My ques. Is when foreign co. (Has no PE) receive Rent income of equipments how much tax they have to pay?
My ques. Is when foreign co. (Has no PE) receive Rent income of equipments how much tax they have to pay?
18 February 2021
Leave with the TDS deducted. No need to file ITR.
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