CA. Kunal Lakhotia (ACA) (1006 Points)
29 January 2013
Rahul
(CA Practice )
(1818 Points)
Replied 29 January 2013
If it is a reimbursement, then there is no need to apply to AO under section 195(2), provided you have all the relevant supporting. For Example, if the remmitance is for USD 100, then bills should be available for USD 100, No markup should be added on that amount.
Lokesh Poddar
(Executive)
(55 Points)
Replied 29 January 2013
Withholding tax is applicable on training expenses, Reimbursement of travelling expenses is not liable to tax. Form-15CB shall be incorporated while remittance along with Form-15CA. Tax can be deposit on 7th of the next month.
CA Prashant Gupta
(DGM (F & A))
(14068 Points)
Replied 29 January 2013
give your client 15CB. as it is reimbursement no TDS applicable
then submit 15CA online
CA. Kunal Lakhotia
(ACA)
(1006 Points)
Replied 29 January 2013
client doesnt have the Travel Receipt, If he makes the payment without deducting TDS now and gets the receipt later from foreign company, then its ok??
CA Prashant Gupta
(DGM (F & A))
(14068 Points)
Replied 29 January 2013
if it is confirm that you will get receipt then in practical it is OK
CA. Kunal Lakhotia
(ACA)
(1006 Points)
Replied 29 January 2013
IS THE INCOME TAXABLE IN iNDIA?( a clause in Form 15CB).. as only $1000(training fees) are liable to TDS and not $2000(traveling expenses)
CA BARKHA MITTAL
(B.COM, CA)
(149 Points)
Replied 29 January 2013
vijay sharma
(Sr. Accountant)
(230 Points)
Replied 30 January 2013
Yes.. I agreed with Barkha Mittal.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
