DEAR SIR, AN INDIAN COMPANY WANTS TO MAKE PAYMENT OF RS. 10 LAKHS FOR PROFESSIONAL FEES TO A FOREIGN COMPANY ( UK) WHO DOES NOT HAVE PAN NUMBER IN INDIA. IS TDS TO BE DEDUCTED AT 20.6% AS PAN IS NOT THERE OR AT SOME OTHER RATE. ALSO WHAT IS THE RATE OF DTAA, I UNDERSTAND THAT IT IS 15 % IF PAN IS THERE, WHAT IF PAN IS NOT THERE ? ALSO HOW TO ISSUE TDS CERTIFICATE AND FILE ETDS RETURN WITHOUT PAN NUMBER ? PLEASE ADVISE RAJESH PODDAR
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Tds on professional fees to foreign company
Replies (1)
The Sec 206AA of income tax provides that tds should be rate
1.the act which is specified.in ur case 20.%
2.the rate of 30% if no pan.
So inur case if no pan rate of tds should be 30%
and if u have pan then rate which the act specified i.e 20%
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