There is an foreign company which has been awarded compensation against an Indian company for default to supply goods, please advise if tax needs to be deducted on this compensation payable by Indian company. If yes, then whether it is covered under TDS, else in which section. Your views are welcome.
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Taxability of compensation paid to non resident
Replies (1)
Mr.Amit Pushpakar You have to furnish more details such as nature of compensation, the terms and conditions of the agreement executed between the foreign company and the Indian Company. You have to also furnish the details such as whether the foreign company is having a permanent establishment in India?
Your question may be an imaginary one, but background material to frame the question is necessary to form a legal opinion.
Best Wishes
Sathikonda
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