Tds payment of non-resident
This query is : Resolved
03 November 2011
My Client is a Private Limited Company. They have imported machineries from Japan. They have been provided Techniqual Services by the Japanes Company. It is arise a TDS liability of my Client u/s 195.
Japanes Company is a Non-Resident, hence it has no PAN.
Can Any one please explain me about the procedure of TDS payment?
Japanes Company is a Non-Resident, hence it has no PAN.
Can Any one please explain me about the procedure of TDS payment?
03 November 2011
Simply deduct TDS @ 20% .
Obtain Form 15CB from a practising CA.
Then upload the said information through site tin.nsdl.com in the form 15CA.
deposit tax.
File TDS return
Issue form 16A after generating from tin website.
Anuj
+91-9810106211
femaquery@gmail.com
Obtain Form 15CB from a practising CA.
Then upload the said information through site tin.nsdl.com in the form 15CA.
deposit tax.
File TDS return
Issue form 16A after generating from tin website.
Anuj
+91-9810106211
femaquery@gmail.com
03 November 2011
These are technical services and I believe agreement is after 1-6-05. So rate of TDS must be 10% + EC + SHEC. and if payment is more than 1 crore than SC will be also added.
03 November 2011
As per queriest, the Japanese Company doesn't have a PAN and hence sec 206AA will come into picture.
Anuj
+91-9810106211
femaquery@gmail.com
Anuj
+91-9810106211
femaquery@gmail.com
03 November 2011
thanks, Mr. Anuj. I missed that point. TDS rate will be 20%
04 November 2011
Thank sirs. I have one more doubt After deductin g TDS, Whether i have to file TDS return in Form 27Q. If Yes, Whether i have to mention any detail regarding PAN in form 27Q
04 November 2011
i further go through the income tax act, I found that The following categories of persons are not required to obtain or quote PAN :
a) Persons having only agricultural income and who do not have any taxable income . Such persons will file a declaration (Form 61) in respect of transactions where quoting of PAN is mandatory ;
b) Non-residents ;
c) Central Government, State Governments and Consular Offices in transactions in which they are the payers.
a) Persons having only agricultural income and who do not have any taxable income . Such persons will file a declaration (Form 61) in respect of transactions where quoting of PAN is mandatory ;
b) Non-residents ;
c) Central Government, State Governments and Consular Offices in transactions in which they are the payers.
05 November 2011
Amit,
Kindly specify the section when you mention anything in future.Please specify which section are you talking of.
Anuj
Kindly specify the section when you mention anything in future.Please specify which section are you talking of.
Anuj
07 November 2011
sECTION 139A
07 November 2011
Whether DTAA will affect the TDS rate?
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