Tds u/s 195
This query is : Resolved
Dhaivat Trivedi
(Querist)
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.
CA R SEETHARAMAN
(Expert)
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.
Dhaivat Trivedi
(Querist)
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.
CA R SEETHARAMAN
(Expert)
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- Ito add credit side of bank
- GSTR9 Annual Return
- Applicability of tax on invoice
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Import of Capital Machine
- Capital gain on commercial property and investment in residential property
- Form 144 TDS Return Validation error
- Form 144 TDS Return Validation Error – Mandatory Fields
- 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?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
