applicability of TDS
This query is : Resolved
21 December 2010
I want to get clarified whether TDS is applicable on foriegn investment
(as share capital) made by a resident individual.
I also like to know rate of deduction.
Is there any prior permission required from Income Tax dept.
(as share capital) made by a resident individual.
I also like to know rate of deduction.
Is there any prior permission required from Income Tax dept.
22 December 2010
No,TDS is only applicable in respect of any income paid to non resident. If any dividend is paid then the same is also subject to Dividend Distribution tax and exempt in hands of foreign equity holder.
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