Sir,
My company like to made payment for Exibition hold at Italy for the Booking of Stall uder DTA.
Now the question is that if there is any laibility for deducting the TDS or not? if yes under which head what is the rate of tax?
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T.D.S. on payment made to NRI / NRI company under DTA agreem
Replies (2)
I am answering your question assuming your company is an Indian Company..
The following is the course of action:
a) Deduct TDS under DTAA or Indian Taxes whichever is lower, but in the given case surprisingly the DTAA rate is 20% and as per I T Act 10% so u can deduct at 10% (+ Surcharge + Cess’s)
b) Upload Form 15CA and take a certificate from a CA in from 15CB
c) Submit it to the authorized dealer
I don't think TDS shall be applicable in the present case. You can take a certificate from the foreign party in attached format and can remit the money without deduction of TDS.
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