04 December 2012
Is Tax required to be withheld (TDS) on payment made to any International Stock Exchange in regards on-going listing fees - [Annual Upholding and maintenance fees for listing an Indian company's GDR issue at the International Stock Exchange]
04 December 2012
According to section 195 all type of payments would be eligible for TDS, if sums are transferred to a foreign national.
So, yes tax will be withheld and you have to take certificate from a chartered accountant in Form 15CB regarding this and to be filled Form 15CA and submit to respective bank for transfer of that remittance to foreign nationals.
First of all, you will have to look at the DTAA with the respective country. if it is not taxable as per DTAA then you will have to get the following certificates from the party if TDS is not required to be deducted at the time of payment- -Form 10FB- Tax Residence Certificate -Certificate that there is no PE in india
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