Hi
We have to remit a sum of USD 2000/- to a Foreign Company for Purchase of some database on our Industry.
1.Whether TDS is application on this?
2.If yes, under which section & at what rate?
Thanks in advance for the advise.
Ashish
Menu
TDS u/s 195 for remittance of "Other Sums"
Replies (2)
Hi... I dont think so there will be any TDS to be deducted.... As its a normal purchase and not any interest or such amount.....
Dear Ashish,
I am not sure but your contract seems like the one for "PURCHASE" & not that of "SERVICE"......
TDS is not applicable in case of Purchases..
Recent Topics :
- Section 54F Exemption
- Would you use a free, open-source alternative to s
- Business & Finance
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
- FCGPR of a past period
- Discuss and Download CA Final Question Paper Nov 2
Related Topics :
CAclubindia
