Tds issue
This query is : Resolved
05 January 2012
In case where sec. 206AA is made applicable on account of non-availability of PAN, whether the rate of TDS would be 20% or 20.60% (i.e. 20% + ed.cess)
What would be the scenario in case of foreign remittance to parties without PAN.
What would be the scenario in case of foreign remittance to parties without PAN.
05 January 2012
The rate of TDS is 20% only if PAN is not provided
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05 January 2012
In the case of foreign remittance in the absence of PAN, notwithstanding the fact that a lower rate is provided under the ITA or the tax treaty, tax is required to be withheld @ 20% in India.
However 2% education cess and 1% sec and edu cess also to be deducted if payment is made to a 'non resident'
However 2% education cess and 1% sec and edu cess also to be deducted if payment is made to a 'non resident'
05 January 2012
20% +surcharge, if applicable + education cess, if applicable. 20% is only basic rate.
06 January 2012
Education cess and secondary & higher education cess need not be deducted while deducting tax for payments domestic companies and resident persons except for salary payments.
pl go through proviso to sub clause 11 and 12 of clause 2 in chapter ii of the finance(no 2) bill,2009
pl go through proviso to sub clause 11 and 12 of clause 2 in chapter ii of the finance(no 2) bill,2009
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