Please claarify whether Income Tax be deducted on Remittance (Payments) for Import of Raw materials Chemicals from Chaina.
And if Deducted then the rate of TDS be 30% plus EC.
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TDS ON REMITTANCE U/S 195 OF THE INCOME TAX ACT
Replies (23)
Any Import of RM purchase TDS will not attract. Any Services rendered then only TDS will attract. If the payment is come under DTAA then it will be respetive countries as per rates prescribed otherwise 40% of TDS will attract.
Please claarify whether Income Tax to be deducted on Remittance (Payments) for pur of trade station data, if yes then the threshold & rate of tax
Please claarify whether Income Tax to be deducted on Remittance (Payments) towards subscription for online data base to foreign compnay having no establishment in India.if yes then the threshold & rate of tax
Please clarify wheather TDS to be deducted on the payment of Professional charges/ Consultancy fee to foreign agent in Foreign Currency and what is the persentage
Please claarify whether Income Tax to be deducted on Remittance (Payments) towards subscription for online data base to foreign compnay having no establishment in India.if yes then the threshold & rate of tax
we having a business of Insurance Brokers, for the remiitance to UK
we have going to appoint a consultant in UK. consultancy fees paid by monthly fix amt.
we want to know that the remittance, which will be paid after we confirm the appointment.
will have to deduct TDS on consulancy fees.?
reply soon please, it is urgent
Regard,
Shailesh Jariwala
we having a business of Insurance Brokers, for the remiitance to UK
we have going to appoint a consultant in UK. consultancy fees paid by monthly fix amt.
we want to know that the remittance, which will be paid after we confirm the appointment.
will have to deduct TDS on consulancy fees.?
reply soon please, it is urgent
Regard,
Shailesh Jariwala
I am a clearing agent i need to know that my client will be importing two container of capital goods from china we as agent will be handling the freight forwarding from china to india in which case i have to remit the freight charges to my agents please advise if we have to pay TDS on the freight
| Originally posted by :Guest | ||
| " | Please clarify wheather TDS to be deducted on the payment of Professional charges/ Consultancy fee to foreign agent in Foreign Currency and what is the persentage | " |
Please clarify wheather TDS to be deducted on the payment of Professional charges/ Consultancy fee to foreign agent in Foreign Currency and what is the persentage "
| Originally posted by :Guest | ||
| " | Please claarify whether Income Tax to be deducted on Remittance (Payments) for pur of trade station data, if yes then the threshold & rate of tax | " |
| Originally posted by :Guest | ||
| " | Please clarify wheather TDS to be deducted on the payment of Professional charges/ Consultancy fee to foreign agent in Foreign Currency and what is the persentage | " |
| Originally posted by :Guest | ||
| " | Please claarify whether Income Tax to be deducted on Remittance (Payments) for pur of trade station data, if yes then the threshold & rate of tax | " |
TDS on payments to Non-residents in INdia is a vast subject by itself. It is not like Domestic payments to say whether TDS is applicable or not. You need to go through a detailed procedure and ensure TDS applicable which also needs to be certified by a CA before the remittance is effected. This is a pre-requisite for the authorised dealer to effect the remittance. So it is not possible for anyone to advice on TDS u/s 195 based on such emails
| Originally posted by :Guest | ||
| " | Please claarify whether Income Tax to be deducted on Remittance (Payments) for pur of trade station data, if yes then the threshold & rate of tax | " |
Hi,
Pls clarify the rate of TDS deducted for foreign remittance made for renewal of software licnce - AMC usage for one year.
Thanks
Dhanalakshmi
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