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TDS ON FOREIGN PAYMENTS

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student
47 Points Posted on 07 July 2019
Hello,

I have a query on TDS for foerien payments.

we running a construction company and purchasing some raw materials & finished products from outside India. so while making advance payments to vendors, is there any TDS apply? if apply which section I need to consider?

Thanks.
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On 07 July 2019 at 17:11 Report
Replies (4)
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Audit assistant
79 Points Posted on 07 July 2019
As per the combined reading of the provisions of sec 9 , 90 and sec 195 Income Tax Act, 1961, imports of goods are not liabke to tax in India subject to some conditions. So normally there is no liability of TDS. And you can import and make advance payments without any TDS and form 15CB.
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On 07 July 2019 at 18:42
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Audit assistant
79 Points Posted on 07 July 2019
As per the combined reading of the provisions of sec 9 , 90 and sec 195 Income Tax Act, 1961, imports of goods are not liabke to tax in India subject to some conditions. So normally there is no liability of TDS. And you can import and make advance payments without any TDS and form 15CB.
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On 07 July 2019 at 18:42
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student
47 Points Posted on 07 July 2019
Okay Thanks,
If suppose we are taking technical services from outside India. that time TDS can apply?
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On 07 July 2019 at 18:49
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Audit assistant
79 Points Posted on 07 July 2019
It's my pleasure! Yes then TDS shall be applicable.
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On 07 July 2019 at 19:08


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