Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
03 November 2011We are making payment of Royalty and Professional Fees to Foreign Company after deducting TDS @ 10%. My querry is, foreign company has to file Income Tax return in India for the said income or not.
What is the procedure for foreign company after receiving Income from India.
Cherry Bansal
(Practicing Chartered Accountant)
(80 Points)
Replied 03 November 2011
CS Bijoy
(Expert)
(6394 Points)
Replied 04 November 2011
Income Tax return is required to file on the income accrued in India.
Arihanth Jain
(Chartered Accountant)
(1226 Points)
Replied 04 November 2011
Tax on dividends, royalty and technical service fees in the case of foreign companies.
115A(5) - It shall not be necessary for an assessee referred to in sub-section (1) to furnish under sub-section (1) of section 139 a return of his or its income if—
(a) his or its total income in respect of which he or it is assessable under this Act during the previous year consisted only of income referred to in clause (a) of sub-section (1); and
(b) the tax deductible at source under the provisions of Chapter XVII-B has been deducted from such income.
amitmehta_ca
(CA, CMA)
(99 Points)
Replied 04 November 2011
Dear Deepak,
Please tell me to which country you are making payment ?
Regards
Amit Mehta
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