Hi I am a private ltd company operating in India and received comission in US dollar for services rendered to the. Foreign company for sales outside India. No sales has been performed in India and all sales has been directed from hongkong company and is performed outside India. Now my company received the comission in US dollar. Please help me in understanding that do I need to deduct income tax according to Indian income tax laws or need to deduct the service tax. Please help as I don't have any idea.
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Comission received in india from foreign company
Replies (1)
Your company has received the commission. so, your company do not need to deduct any taxes.
TDS is required to deduct whenever your company is making payment. This is the liability of payer.
As you said, in this case, you are payee.
Therefore, No liability.
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