TDS

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Purnima Maniar (Querist)
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16 February 2010 Indian company has made a payment of royalty to a foreign company after deducting TDS. TDS has been paid.

Now Foreign company is asking Indian company to give tax deduction certificate so that they can claim benefit under DTAA.

Kindly guide us in what form we have to give TDS certificate - apprehension is that the TDS has been deducted in INR whereas payment of royalty has been made in US Dollar. As per knowledge of the Indian Company, they can give TDS certificate in Form No.16 and that too giving description only in INR. If that is so how foreign company will get benefit in their country.

Early response is appreciated.

shrikant

shrikant (Expert)
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22 February 2010 Dear Purnima

Sorry but Form no. 16A instead of Form 16. You are right Form 16A shows figures in INR and they have to convert it through daily average exchange rate if feasible or else average yearly exchange rate on 31 march.

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