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LIABLE TO DEDUCT TDS OR NOT ?

CA CHINTAN AJMERA (Chartered Accountant) (2987 Points)

24 September 2008

HELLO FRIENDS ,

IF ANY INDIAN COMPANY EXPORT GOODS THROUGH FOREIGN SHIPIING COMPANY'S BRANCH OFFICE WHICH IS REGISTERED IN INDIA ( XYZ (INDIA) PVT. LTD ), THE INDIAN COMAPNY DEDUCT TDS OF FOREIGN SHIPPING COMPANY OR NOT ?

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18 Replies

S.Srinivasaraghavan (Chief Financial Officer and Co) (11318 Points)
Replied 24 September 2008

Yes.

Munish Goyal (Chartered Accountants) (20 Points)
Replied 24 September 2008

Its depend whether such indian company is an agent of such foreign shipping company. if yes, then U/s 172 of income tax override the income tax and provision of Sec. 194 & 195 will not be applicability. and no ned to deduct the tax on Ocean freight and expenses linked with such shipment.

further such indian company have to produce the certificate from income tax department, that being an agent of foreign shipping line tds provision will not be applicable for a specific period ( Income ta x department issue such certificate for one yera. it need renew to such certificate every year.

Apart from that there isa circular issued by income tax department long time back , according to that, countries with which we have a double taxation avoid agreement , need not to deduct TDS on payment made to foreign shipping companies and their agent in india.

NITIN KOTAK (SERVICE) (1465 Points)
Replied 24 September 2008

Originally posted by :CHINTAN
"	HELLO FRIENDS , IF ANY INDIAN COMPANY EXPORT GOODS THROUGH FOREIGN SHIPIING COMPANY'S BRANCH OFFICE WHICH IS REGISTERED IN INDIA ( XYZ (INDIA) PVT. LTD ), THE INDIAN COMAPNY DEDUCT TDS OF FOREIGN SHIPPING COMPANY OR NOT ?	"

NITIN KOTAK (SERVICE) (1465 Points)
Replied 24 September 2008

YES LIABLE TO DEDUCT TDS FROM CONTRACT BILL

(Guest)

if any CHA reimbuse transportation/fortklift charges of his own company

e.g. my CHA is A & he his having his transport division called A (Divn transport) can we deduct TDS on reimbursement of Transportation

ARUN MISHRA (Tax & Investments Consultant) (20 Points)
Replied 26 September 2008

ddd

ARUN MISHRA (Tax & Investments Consultant) (20 Points)
Replied 26 September 2008

HELLO FRIENDS ,

IS TDS APPLICABLE ON PRINTING WORK? (visiting card, brouchers & letters etc.) IF SUPPLIER CHARGE SALES TAX ON BILL.

Please suggest..

Arun Mishra

(Guest)

Originally posted by :Guest
"	HELLO FRIENDS , IS TDS APPLICABLE ON PRINTING WORK? (visiting card, brouchers & letters etc.) IF SUPPLIER CHARGE SALES TAX ON BILL. Please suggest.. Arun Mishra	"

(Guest)

Originally posted by :Guest
"	HELLO FRIENDS , IS TDS APPLICABLE ON PRINTING WORK? (visiting card, brouchers & letters etc.) IF SUPPLIER CHARGE SALES TAX ON BILL. Please suggest.. Arun Mishra	"

(Guest)

Originally posted by :Guest
"	HELLO FRIENDS , IS TDS APPLICABLE ON PRINTING WORK? (visiting card, brouchers & letters etc.) IF SUPPLIER CHARGE SALES TAX ON BILL. Please suggest.. Arun Mishra	"

(Guest)

On what portion of salary should I deduct TDS?

I mean on basic OR basic+allowance OR else?

Please provide me complete details on TDS to be deducted from salary payments.

Debashis Mandal (Business & Tax Consultancy) (341 Points)
Replied 04 October 2008

Can any one deduct TDS, while making the concerned Payments?

or there are certain other crietaria to be fulfilled e.g. any turnover limit as mentioned U/S 44 AB or U/S 44AA compulsary maintainance of books of accounts.

Pls. send the reply.