Tds on foreign remittance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 October 2013
Dear sir ,
we had deducted tds @10.3% i.e 3414 usd as per dtaa on foreingn remittance on 31/05/2012 but still not deposited.
now i want to depsited so please suggest me the exchange rate .
should i take exchange rate on which tax deducted or current rate on which we want to depsit
we had deducted tds @10.3% i.e 3414 usd as per dtaa on foreingn remittance on 31/05/2012 but still not deposited.
now i want to depsited so please suggest me the exchange rate .
should i take exchange rate on which tax deducted or current rate on which we want to depsit
26 October 2013
It will be the @ date of deduction of TDS. You will take exchange rate as on date of deduction.
26 October 2013
the rate applicable shall be prevailing rate as on the date of deduction ie 31/05/2012. That is your crystallized liability. The interest payable thereon too shall be calculated on the same amount.
So if the rate was Rs 50, then TDS is Rs 170700. and interest is to be calculated thereon.
So if the rate was Rs 50, then TDS is Rs 170700. and interest is to be calculated thereon.
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