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Withholding tax by Customer in Sri Lanka

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(Querist)
13 July 2010 We are into Telecom software product and services business. Our Customer in Sri Lanka has recovered withholding tax. Can we take the tax credit of the withholding tax recovered by them against the income tax payable by us on our profits.
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srikanth

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srikanth (Expert)
13 July 2010 Hi Shilpa

Govt of India has entered in agreement for avoidance of double taxation with 57 countries(ADT) sirlanka is also included in this 57....As per agreement income in chargeable in both countries...However the country of residence of the taxpayer allows him credit for the tax charged in other country....so u can adjust against income tax payable....
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HARIHARAN KRISHNAMURTHY

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HARIHARAN KRISHNAMURTHY (Expert)
13 July 2010 Hi Shilpa,

The Double taxation avoidance agreement between GOI and GOS is available in IT website ( pl ref to the following link)

https://law.incometaxindia.gov.in/DIT/File_opener.aspx?fn=https://law.incometaxindia.gov.in/Directtaxlaws/cbdt/dta/A1_Sri_Lanka.htm
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