Regarding outward remittances

sabyasachi mukherjee

Profession Business

28207 Points Posted on 06 January 2024

Pls upload the details. get hold of the beneficiary details.

RUDRA

Income & Corporate Tax Lawyer

383 Points Posted on 06 January 2024

What type of details.
We have a invoice.. we want to pay regarding the same.
Bank is asking the Purpose code.
So I wanna whats the exact purpose code to take a premises on rent in Dubai Damac.

sabyasachi mukherjee

Profession Business

28207 Points Posted on 06 January 2024

Pay into beneficiary account.

Sharath chandra

Accountant

1227 Points Posted on 08 January 2024

Why are you sending it to them? are you giving it as a loan to them or is it your constant and you are paying rent?

sabyasachi mukherjee

Profession Business

28207 Points Posted on 08 January 2024

Someone must try to understand.

Sharath chandra

Accountant

1227 Points Posted on 08 January 2024

... is it your company* and you are paying rent?

sabyasachi mukherjee

Profession Business

28207 Points Posted on 08 January 2024

Yes a company certainly

RUDRA

Income & Corporate Tax Lawyer

383 Points Posted on 08 January 2024

If you really know.. about 195 IT thn suggest.. otherwise please

Sharath chandra

Accountant

1227 Points Posted on 08 January 2024

195 is the tds on foreign payment. but there are certain purpose codes provided by RBI and it is our duty to select them properly.

there is no rental expense mentioned in the RBI purpose codes. hence, wanting to know the exact nature of transaction.

RUDRA

Income & Corporate Tax Lawyer

383 Points Posted on 08 January 2024

Yeah.. I have to file 15 CA CB.
And I also have to provide purpose code to bank.
Now.. nature of payment as Told.. I Had taken premises there in Dubai... and I have to pay rent on mothly basis.
This money is monthly rent for Dec period... from my company account.