Require agreement format for Joint Venture, Explain
This query is : Resolved
07 January 2022
Let us explain to you that, our two entity (India and Singapore) Company has bid through Joint Venture. We get the project through joint venture. Both the companies work in the same project, but the client will pay only one of them. We issue invoices from India, as there is DTAA in India and client country. My question is how will we pay to Singapore company, as both are working in client place. Can anyone explain the procedure, how we can do payment/fund transfer (certain %) from India to Singapore. is TDS/WHT/RCM applicable on when we transfer fund from india to singapore,which based ?
07 January 2022
Since India have a DTAA treaty with Singapore , it is required to Deduct TDS on services on invoice and you have to open a separte escrow account for transferring to off shore entities . Refer RBI/Circular
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