Is TDS to be deducted on reimbursement of ocean freight to foreign if yes than rate of tds ??
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Quick Summary
This discussion explores whether Tax Deducted at Source (TDS) is applicable on the reimbursement of ocean freight charges paid to foreign entities. The general principle discussed is that reimbursement of expenses is typically not taxable under the Income Tax Act 1961. If the assessee is in the shipping business and the reimbursement is for genuine expenses, no further TDS should be required.