Hi can any one say whether TDS is to be made for payment for import of software. According to the report which was posted in 'The Hindu" news paper on 25th september tds is to be made. But can any one show the notification relating to that by I Tax Dept. Please if it is to be deducted, then at what %?
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TDS on payment forImport of software
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Yes. TDS is deductible under Royalties and Technical Services. However, if you are importing canned software of the seller in packs for retail sale in the nature of goods, there is no TDS. If the software is customised for you to use or resell, you will have to bear TDS. Only take care that seller should not have a Branch Office (not a subsidary) in India or a DAPE if you are imporing it as goods.
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