Sir
We are paying professional fees to Singapure based company with regard to Patenet fees. Are we liab;e to deduct TDS
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Tds on professional fees
Replies (6)
Sir,
You are liable to deducted TDS on Professional Fee. It is foreign payment and also check the rate of TDS of Foreign payment.
TDS is definately deductible.........But whether rate as per DTAA are applicable or incometax act rate depends on many factors like nature of tranction, PE, entity holding valid TRC PAN etc.
So Better take professional advice or give each and every detail about the tranction and entity.
Regards
CA Kumar Ajay
cakumarajay @ hotmail.com
Sir,
Plz forward the rate of TDS on Professional Fee regarding foreign payment as Patent to Mr. Manjunath.
Your earlier action in this reagrd would be highly appreciated.
See section 195. Rate of TDS will be 20% plus surcharge and cess on net amount being paid. You you need to calculate by reverse calculation.
But if that foreign company has PAN then tax rate is 10% plus surcharge and cess.
What about TRC Certificate???
| Originally posted by : PraKKash | ||
 |
What about TRC Certificate??? |  |
If foreign company is from a country with which India has DTAA and that company has Indian PAN, they will provide you TRC.
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