Taxation

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Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2011 MY COMPANY GOT A CONTRACTS IN UK FOR 20000 POUNDS .U.K COMPANY DEDUCT OUR T.D.S IN POUND OUR REGISTERED OFFICE IN INDIA.WHEN WE FILL INCOME TAX RETURN T.D.S IN POUND IN VAILD OR NOT

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 August 2011 While calculating tax on the total income ,
credit for the TDS can be claimed on the basis of average rate of tax payable.

As the Income has to be converted in INR, in the same way tax credit will be available on the converted value in INR.

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