hi club,
Can anyone advise on the following Query urgently pls.
We have made a contract with a foreign company for availing Technical Services (technical know how fees).
We have made an advance payment in USD to the Vendor by deducting 20.6% TDS on our Payment.
Now the vendor is unable to deliver their commitment as per the agreement, hence the contract is getting cancelled and the vendor is returning the payment back to us.
Can you please advise,Is there any provision to claim the same? how can we claim the refund of the TDS remitted to the IT Department ?
Thanks
spkavi
CAclubindia
