Tds issue

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Rachit (Querist)
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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]

Sunny Sonwal

Sunny Sonwal (Expert)
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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.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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04 December 2012 Dear Mr. Rachit,

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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