TDS
This query is : Resolved
21 September 2009
WHAT IS TDS RATE ON COMMISSION WHEN IT IS PAID IN SPAIN AND ALSO IT IS NOT COVERED IN DTAA THEN WHETHER TDS IS CHARGED AS PER THE LOCAL RATE ?
22 September 2009
no tds if the agent is a NRI(NRi assumed since paid in spain) , operates outside india . circular no 786 issued in feb 2000 .
NO income accrues u/s 5 , sec 195 not attracted
Otherwise check withholding tax rates , if the agent is not a NRI , i think the rates will be same at 10 % , kindly check the tax rates applicable under ADT agreement
for companies Sc shud be levied at 2.5% where income exceeds INR 10 million and EC should be levied at 3 %
others - only Ec should be levied
NO income accrues u/s 5 , sec 195 not attracted
Otherwise check withholding tax rates , if the agent is not a NRI , i think the rates will be same at 10 % , kindly check the tax rates applicable under ADT agreement
for companies Sc shud be levied at 2.5% where income exceeds INR 10 million and EC should be levied at 3 %
others - only Ec should be levied
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