Hello Friends,
We are importing a machinery from Italy. My question here is Does sec 195(TDS) of the Income Tax Act or any other provisions apply here ?. Please help
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Tds applicability
Replies (3)
No TDS will not apply simply because on purchase of goods in India, TDS is not applicable henceforth TDS cannot be made applicable when purchase is from outside the country. Simple Logic
There is no applicability of TDS on purchase of machinery and materials. Hence, even in the case of imports, no such TDS can be levied.
Hello Friends,
Thanks for the response.
TDS is not applicable provided that the person importing the goods gets a declaration from the foreign vendor that they do not have Permamnent Establishment in India as envisaged in Sec 9 and Double Taxation avoidance agreements with that country.
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