Tds on payments to non-residents
This query is : Resolved
rakesh sharma
(Querist)
07 February 2008
I pay commission to Non- resident(USA) for services rendered in india.
What shall be the tax rate.
Regards
I pay commission to Non- resident(USA) for services rendered in india.
What shall be the tax rate.
Regards
rakesh sharma
(Querist)
07 February 2008
cz
rakesh sharma
(Querist)
07 February 2008
cz
07 February 2008
IF THE RECEIPIENT IS NON CORPORATE ASSESSEE(INDIVIDUAL/HUF/BOI/AOP) AND IF THE PAYMENT OR CREDIT (SUBJECT TO TDS) DOES NOT EXCEED RS. 10,00,000/,RATE OF TDS IS 30.9%(INCL ED.CESS).
IN THE ABOVE CASE IF THE PAYMENT OR CREDIT EXCEEDS RS 10 LAKHS THE IS 33.99%.
IF THE RECIPIENT IS NON DOMESTIC COMPANY(AMOUNT OF CREDIT OR PAYMENT DOES NOT EXECEED RS . ONE CR.) THE RATE WILL BE 41.2% AND 42.23% IF PAYMENT OR CREDIT EXCEEDS RS. ONE CRORE.
R.V.RAO
IN THE ABOVE CASE IF THE PAYMENT OR CREDIT EXCEEDS RS 10 LAKHS THE IS 33.99%.
IF THE RECIPIENT IS NON DOMESTIC COMPANY(AMOUNT OF CREDIT OR PAYMENT DOES NOT EXECEED RS . ONE CR.) THE RATE WILL BE 41.2% AND 42.23% IF PAYMENT OR CREDIT EXCEEDS RS. ONE CRORE.
R.V.RAO
Gaurav Gupta
(Expert)
21 February 2008
I agree with Sh.R.V.Rao.
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