T d s us 94c
This query is : Resolved
31 July 2021
In Terms of notification FEMA 10 (R)/2015-RB of January 21,2016 payment is made through EEFC account maintained with India Bank in convertible foreign exchange towards sea freight
My question is whether TDS us 94C is applicable to above payments ?
My question is whether TDS us 94C is applicable to above payments ?
31 July 2021
As per CBDT circular 723 of 1995, foreign shipping companies or their agents are exempted from TDS under section 194C – payment to contractors .
02 August 2021
The parties to whom freight payment is made are Indian Freight Forwarders
02 August 2021
They will be considered as shipping agents TDS not applicable.
02 August 2021
THEY ARE NOT DIRECT AGENTS OF FOREIGN SHIPPING LINE IN TERMS OF SECTION 172.
THEY ARE MIDDLEMEN BETWEEN EXPORTER AND SHIPPING LINE REPRESENTING FOREIGN SHIP OWNERS
THEY ARE MIDDLEMEN BETWEEN EXPORTER AND SHIPPING LINE REPRESENTING FOREIGN SHIP OWNERS
02 August 2021
Middlemen and the agents are one and the same. They are directly dealing with ship owners.
Is it reimbursement of freight bill.
Is it reimbursement of freight bill.
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