TDS on Late delivery Charges [Foreign]
This query is : Resolved
Malcome M Bandya
(Querist)
10 November 2022
Dear Sir,
Liquidated damages [ Late delivery charges called as “LD“] : We have exported the material, but some of material got deled to deliver to our foreign customer and our foreign customer have charged the amount as Late delivery charges.
Kindly advice to deduct TDS rate and RBI Purpose code towards process this payment.
Thank you.
Liquidated damages [ Late delivery charges called as “LD“] : We have exported the material, but some of material got deled to deliver to our foreign customer and our foreign customer have charged the amount as Late delivery charges.
Kindly advice to deduct TDS rate and RBI Purpose code towards process this payment.
Thank you.
CA R SEETHARAMAN
(Expert)
10 November 2022
No TDS applicable on such LD
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