TDS on Ocean Freight
This query is : Resolved
29 January 2011
Hi,
There is a indian Pvt. co. who charge ocean freight on import from Another indian Pvt. co.
My question is that should co. deduct TDS on ocean freight paid by it and what rate.
Reply soon..............
There is a indian Pvt. co. who charge ocean freight on import from Another indian Pvt. co.
My question is that should co. deduct TDS on ocean freight paid by it and what rate.
Reply soon..............
29 January 2011
Your question is not clear. Plese cleraly mention who is making the payment to whom.
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30 January 2011
virtue of Sec 172 (1) which inter-alia states that "The provisions of this section shall, notwithstanding anything contained in the other provisions of this Act, apply for the purpose of the levy and recovery of tax in the case of any ship, belonging to or chartered by a non-resident, which carries passengers, livestock, mail or goods shipped at a port in India" . Hence the levy and recovery of Tax from Non-Resident Shipping will only be governed u/s 172 and not 194C or 194I. Kindly also see Circular No. 723 dtd 19-09-1995 of CBDT (attached) which further clarifies the same.
Since No TDS provision is applicable on Non-Resident Shipping Companies , Hence the question related to DTAA is not relevant.
Since No TDS provision is applicable on Non-Resident Shipping Companies , Hence the question related to DTAA is not relevant.
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31 January 2011
respected sir,
Actually i am asking about the Indian co.
both co.'s are Indian there is no question of non resident.
Is TDS deduct on ocean freight charged by Logistic pvt. ltd. (Indian co.)
Actually i am asking about the Indian co.
both co.'s are Indian there is no question of non resident.
Is TDS deduct on ocean freight charged by Logistic pvt. ltd. (Indian co.)
02 February 2011
TDS not applicable on foreign shipping agency or his authorize agent. if indian company is agent then TDS not applicable.
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