My client wants to remit advance of Rs.25 lakhs to Company based in Singapore in respect of purchase of one Shipping Boat. Please advise whether any TDS needs to be made or not.
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Tds on foreign remittance for purchase of boat
Replies (1)
TDS is not applicable on purchase of goods. As the boat is bought from singapore the import documents should suffice and no requirement of 15CB is also there .
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