Tds deduction on payment to foreign company.
This query is : Resolved
22 November 2013
Sir, Our company has awarded a contract to L&T and Sojit Consortium for laying of railway tracks.Complete work is to be done by them at their own. In consortium L&T is resident and TDS deducted at 2% u/s 194C. But Sojit claims to be Non-Resident with permanent establishment and produced a Lower rate deduction certificate from A.O. to deduct tax at rate of .70%+cess etc.
Kindly advice me about the correct procedure to deduct TDS if Sojit is a company of JAPAN.
Amit Goyal
08950070977
Kindly advice me about the correct procedure to deduct TDS if Sojit is a company of JAPAN.
Amit Goyal
08950070977
22 November 2013
then in this case u need to confirm from ito about hsi certificate and then only deduct at .70% + cess etc.
22 November 2013
Dear Amit
If the copy of the lower deduction certificate is made available to you, you can deduct taxes at lower rate on the basis of the same.
If the copy of the lower deduction certificate is made available to you, you can deduct taxes at lower rate on the basis of the same.
22 November 2013
yes, i do have a copy of letter.
Thanks for your prompt reply.
Amit Goyal
Thanks for your prompt reply.
Amit Goyal
22 November 2013
you are welcome.
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