Tds

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swapna (Querist)
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04 September 2013 Hello

if payment made to professional who is Foreigner. and payment made in Dollar.amount is 120680. is TDS applicable for the same transaction , what will be the rate of tds, and what will be the accounting entry for the same. as he is NRI not holding the PAN no. the deduction of tds is applicable to him in what way?

Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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05 September 2013 TDS is rate is 10% need to deduct u/s.195, incase any DTAA agreement between India and that particular country then need to consider the rate as per DTAA. Incase NRI not having PAN then 20% will apply even DTAA is in place

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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