Our company located in Gujarat and we use a shutterstock ( online professional image subscripttttion provider ) so my question should we deduct a tds on payment. Shutterstock.inc is located in USA. Plese tell me by what rate tds deduct if, applicable and by what section ?
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Tds on foreign royalty payment
Replies (1)
Hi,
You are liable to deduct tds u/s 195 rw 9 (1) (vi). Rate is 25% you can take shelter under dtaa and pay at that rate, if the payee doesnot have pan then rate of 20% will come into effect and should be considered while deducting provisions as per act. This is a breif jist, whether tds is payable or not etc should be decided on analysing full facts of your case and contract with subsrciption provider. Kindly approach professional help.
Regards,
Karthik V Kulkarni
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