Tds deposit date for import payments

Objective of section 195 of the Act. (P.No.18 of 1995- 238 ITR
575)

“the objective is to ensure, as best as possible, that the tax liability on the
income element, on the amount paid is got deducted at source itself so that
the department is not put to the hassles of recovering it from a non-resident
whose connection with the India may be transient or whose assets in India
may not be sufficient to meet the tax liability.”

 

Provision of section 195 of the Act (Extract)

“Any Person responsible for paying to a non-resident, not being a
company, or to a foreign company, any interest or any other sum
chargeable under the provisions of this Act (not being income
chargeable under the head “Salaries”) shall, at the time of credit
of such income to the account of the payee or at the time of
payment thereof in cash or by the issue of a cheque or draft or by
any other mode, whichever is earlier, deduct income tax thereon
at the rates in force…………….”

“Provided further that no such deduction shall be made in respect
of any dividends referred to in section 115-O”

 Hello Mr. Saroj,

Thank you for reply. 

at the time of credit of such income to the account of the payee or at the time of
payment thereof in cash or by the issue of a cheque or draft or by
any other mode, 

just to make it clear, is above means at the time of payment transfer?? please reply.