Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2012 if foreign subsidiary company paying 1 lakhs per month to Indian post office dept (speed post) so their need to deduct tds.

aadish

aadish (Expert)
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18 December 2012 There is no requirement to deduct TDS, if payments made to Govt. Deppttt...

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2012 but we are paying more than 1 lacs rupees to post office for speed post

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aadish

aadish (Expert)
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18 December 2012 Does not Matter. How much payment you are making...bcz your paying to Govt Deppt..

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2012 THANX FOR GIVING INFORMATION

COULD BE PLEASE SHARE CIRCULAR IN THIS REGARDS.

aadish

aadish (Expert)
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19 December 2012 Plz see circular no. 699, dated January 30, 1995, In which it is written that there is no requirement to deduct income tax at source on income by way of rent if the payee is govt, and in case of local authorities and statutory corporation whose incomes are exempt from tax u/s 10(20) and 10(20A), there will no requirement to deduct TDS.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 December 2012 Thanks u much for providing details