TDS on fees paid for exhibition
This query is : Resolved
18 June 2010
Sir,
A partnership firm in India is dealing in jewellary . They paid huge amount as participation fees in jewellary fair to a company in kuwait. Payment includes 1% comission on sales also. Is this payment liable for TDS?
Plz help.
A partnership firm in India is dealing in jewellary . They paid huge amount as participation fees in jewellary fair to a company in kuwait. Payment includes 1% comission on sales also. Is this payment liable for TDS?
Plz help.
deepak K Gujrati
(Expert)
18 June 2010
The firm is liable to deduct TDS u/s 195 of the Income Tax Act.
18 June 2010
But sir how can we say that this income has arised in india? Bcz the company in kuwait has no any place of business in india.
deepak K Gujrati
(Expert)
18 June 2010
But the Firm is in India and sales commission has to be received/transferred to India. The liability of the firm is to deduct TDS.
18 June 2010
Sir,
nd what about the the TDS on participation fees.Measure portion of the payment is participation fees.
nd what about the the TDS on participation fees.Measure portion of the payment is participation fees.
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