tds rebate on pymt to non resident u/s 195
This query is : Resolved
02 November 2010
Dear all,
i need help on following ques..
If a pvt ltd co. makes pyt to non resi by deducting tds @20.6% u/s 195 towards prof fees to Italy based consultant, can the payee in Italy get rebate of amt deducted by Indian company u/s 195?
if we make pymt net of tds (u/s 195) on 01.11.10, when should should we deposit the tds to govt?
waiting for reply
thanks in advance
Regards,
Sushil.
i need help on following ques..
If a pvt ltd co. makes pyt to non resi by deducting tds @20.6% u/s 195 towards prof fees to Italy based consultant, can the payee in Italy get rebate of amt deducted by Indian company u/s 195?
if we make pymt net of tds (u/s 195) on 01.11.10, when should should we deposit the tds to govt?
waiting for reply
thanks in advance
Regards,
Sushil.
03 November 2010
India Income tax act is not applicable outside india.
You have to deposit the tax by 7th of next month.
You have to deposit the tax by 7th of next month.
RANGA SRINIVAS
(Expert)
04 November 2010
Dear ll
Set off of taxes is allowed as per the DTAA entered in to between two countries.
tax has to be deposited with seven days from the closure of the month in which tax is deducted. In your case, it should be on orbefore 07.12.2010
Set off of taxes is allowed as per the DTAA entered in to between two countries.
tax has to be deposited with seven days from the closure of the month in which tax is deducted. In your case, it should be on orbefore 07.12.2010
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