Hi...
Please tell me that if I make any payment to NRI or NRC so on which rate I have to deduct TDS? What if PAN is NOT AVAILABLE ?
If I am purchasing some material from any company sittuated out side India, will its payment is liable for TDS?
If TDS is not applicable, so should I have to follow Procedure of 15CA & 15CB.
Please reply as early as possible.
Thanks & Regards
Vihang Desai
If material is purchased then no liability for tds, not required to file 15CA & 15CB. If provisions of section 195 applicable then tds shall be deposited according to the rates prescribed. If PAN is not available, then tds shall be 20.60%.
| Originally posted by : Lokesh Poddar | ||
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If material is purchased then no liability for tds, not required to file 15CA & 15CB. If provisions of section 195 applicable then tds shall be deposited according to the rates prescribed. If PAN is not available, then tds shall be 20.60%. |
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Thank You Sir.
But now banks are asking for !5CA & 15CB for all payment made outside india, so what to do?
In your case TDS rate shall be higher of
- rate prescribed in DTA
- rate prescribed u/s 195
- rate prescribed u/s 206AA
Form 15CA is a undertaking by you for deduction and deposition of tax on his behalf and Form 15CB is a certificate signed by CA. Both are to be filed for any remittance outside India.
CAclubindia
