Vinod (CA in Practice) (445 Points)
05 June 2013Dear friends,
What will be the TDS rates (Contract 194C and Consultancy 194J) while making payment to a partnership firm having 2 NRI partners out of the total 3 partners ?
Is it the same rate (2% and 10%) or any change ?
Please share your views..
Thanks in advance...
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 05 June 2013
Usually the Firm has a PAN which is different from its partners. In your case is it so.
Regards,
Vinod
(CA in Practice)
(445 Points)
Replied 05 June 2013
Yes, the firm has a separate PAN with address in India. Business is carriedout in India only.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7014 Points)
Replied 11 June 2013
As per Income Tax Act " A firm is said to be resident in India in any previous year in every case except where during that year the control and management of its affairs is situated wholly outside India.
Hence TDS shall be deducted at normal rates under 194C & 194J.
Anuj
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