Hi
Anyone can help me about understanding of applicability of TDS on NEGATIVE GRANT PAYABLE TO NHAI (National Highway Authority of India) . Our company entered into concession agreement with NHAI on the basis of BFMOT (Build, Finance, Maintenance, Operate & Tranfer) . Our Company has to pay some amount (part of project cost) to NHAI as Negative Grant
My question whether TDS applicable on above mentioned Negative Grant or not ? if yes which section or if not , why not
Regards
CA Manoj Mehta
what is negative grant? is it the amount which you ll be giving them now and refundable later?
This is not refundable , it is one time payment which is part of biiding agreement with NHAI & Bidder
its not the negetive grant but FEE for getting such project.
Dear Manoj
Actually that negative grant is not a payment, it is actually a concession given/receive for project cost & it will be ultimattly remitted to consolidated fund of india,you may ask your employer(NHAI) regd that,so you need not to deduct tds.
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