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Tds on foreign payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 November 2013 Sir, A person carrying on a business of selling cash voucher in Euro currency in India.
He purchases Euro from a foreign company like U Cash voucher
e.g.

Mr. X sells/trf Euro electronically at some commission which is being utilized to pay foreign purchases

Mr. X purchases Euro from MNC (MNC is a foreign company having no PE in India)
For purchasing Euro, Mr X has to remit the money to MNC

Is Mr. X is liable to deduct TDS on such payment?
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
09 November 2013 Legality of business needs being done needs to be checked in terms of FEMA .

Anuj
femaquery@gmail.com
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