TDS On consultancy to NRI

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Vikas shrimal (Querist)
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18 June 2009 Co. XYZ Ltd. is paying Professional/consultancy charges to NRI ( Individual) on the basis of agreement made and deducting TDS @ 11.33% .

1.What is rate applicable and under which section?
2.Is it necessary that payment should only be made in foreign currency to NRI?
what if the amount is remitted to him in Indian currency?

taxindiaconnect

taxindiaconnect (Expert)
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19 June 2009 Rate is correct which you have been charging if the India Does not have any Double taxation avodance agreement with the country of residence of the payee. This rate is applicable u/s 115A of the IT Act.

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