TDS RATE U/S 195
This query is : Resolved
VIVEK BARANWAL
(Querist)
30 December 2010
Kindly provide the rate in case of payment to foreign company
PAN is not available with company and payment is more than one crore
Whether rate will be 20% or 20% +SC+ed cess
PAN is not available with company and payment is more than one crore
Whether rate will be 20% or 20% +SC+ed cess
30 December 2010
Rate is 20 % only on account of the following reasons:-
There is no reference of section 206AA in the two sub-sections of section 2 of the Finance Act, 2010 as well as in the First Schedule to the Finance Act.
Education cess is imposed by sub-sections (11) and (12) of section 2 of the Finance Act, 2010. Even in these sub-sections reference of section 206AA is not made. Consequently, the rate of 20 per cent under section 206AA cannot be increased by surcharge and education cess.
There is no reference of section 206AA in the two sub-sections of section 2 of the Finance Act, 2010 as well as in the First Schedule to the Finance Act.
Education cess is imposed by sub-sections (11) and (12) of section 2 of the Finance Act, 2010. Even in these sub-sections reference of section 206AA is not made. Consequently, the rate of 20 per cent under section 206AA cannot be increased by surcharge and education cess.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- LLP audit and disclosure
- GST ITC as per notification 12/2023- central tax
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital Gains Tax on Inherited Mutual Fund
- Rent agreement of House of deceased person
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
