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TDS

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(Querist)
29 January 2010 I want to know that whether payment received from any foreign company on account of event organised abroad by any IT Company who is a Resident in India is liable to Tax and if Yes at what Rate?
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
29 January 2010 as per your query income is received by indian company so there is no matter of TDS. because it is responsiblity of payer not receiver. in your case indian company is receiver.
But if your are asking about income tax applicablity then yes, indian company has to pay tax on it. This income will be clubbed in indian co income and tax will be calculated as normal.
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