Tds u/s 195
This query is : Resolved
08 December 2014
Whether TDS u/s 195 is applicable on Reinsurance premium remitted by domestic broker company to Foreign insurance companies ?
Foreign companies do not have PE in india.
Foreign companies do not have PE in india.
08 December 2014
The Income-Tax Department has slapped notices on general insurance companies asking them to pay tax on premiums paid to reinsurers overseas. According to the tax authorities, the premium paid to overseas companies is taxable and should be deducted at source. Their contention is that as Indian insurance companies are collecting premium from the insured in India and the same risk is reinsured with overseas companies, Indian companies are acting as agents for the foreign reinsurers.
08 December 2014
Sir we are insurance brokers who collects insurance premium from indian insurance companies and remit the same to foreign companies . Still TDS would be applicable?
Many thanks for your reply.
Many thanks for your reply.
09 December 2014
Yes TDS applicable......
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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- TDS Return Q1 FY 2026-27
- Eway bill generation from place other than registeted
- CREDIT NOTES WITHOUT GST
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Condonation . E-Verification of last year return .
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- GST rate and HSN code for sale of racing horses
- Depreciation of fixed assets- coop housing society in mumbai
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
