Hi All,
I am working in chennai based Pvt Ltd co.,
Our Principal is from Australia he invested some money in our company. Now we need to pay directors remuneration or commission or profit whatever. So what is the procedure & how i book this expenditure.
TDS is applicable or not for above said transactions & what rate?
Kindly do the neeful its very urgent.
Advance Thanks
regards
Prasad
| Originally posted by : R.V.Durga Prasad | ||
 |
Hi All, I am working in chennai based Pvt Ltd co., Our Principal is from Australia he invested some money in our company. Now we need to pay directors remuneration or commission or profit whatever. So what is the procedure & how i book this expenditure. TDS is applicable or not for above said transactions & what rate? Kindly do the neeful its very urgent. Advance Thanks regards Prasad |
 |
First of all kindly check whether all FEMA provisions regarding investment by foreign national in India have been complied with .
Also be clear as what are you paying to Australian person.Whether the same is interest,dividend ,salary or something else.
TDS applicability can be decided based on Nomencultre of payment.
Anuj
0-9810106211
Nomencultre
MANUJ SHARMA AND COMPANY
Noida
CA Inter
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CA Suraj Garg & Associates
New Delhi
CA Final
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AJAY SINGH AND CO LLP
Thane
CA Final
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CCI
Pro
CAclubindia
