Sec 195 - TDS on payment of agency comm to foreign co

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Self
21 Points Posted on 29 November 2010

Hi,

Need help regarding the following:

One company is paying agency commission to one company based out of Srilanka. Srilankan company helped procuring foreign supply orders.

At what percentage TDS should be deducted on the payment of commission?

Is there any need to take prior approval from RBI for the payment.

your reply will be highly appreciated.

Thanks and regards

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On 29 November 2010 at 15:48 Report
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Chartered Accountant
3769 Points Posted on 29 November 2010

Dear Prasanta,

TDS u/s 195 on Payment to an NRI towards Commission is to be deducted @ 10%. I don't think so there is any need to take prior approval from the RBI. But after the payment of TDS the deductor should file Form 15CA online (www.tin-nsdl.com) and get a certificate in Form 15CB from the Chartered Accountant.

 

 

Regards,

Devendra P Kulkarni

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On 29 November 2010 at 16:35
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article
22 Points Posted on 11 December 2010

Withholding Tax U/s 195 should be deducted @ 10.3% and 15CB certificate need to be receive from a CA

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On 11 December 2010 at 13:49

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