01 September 2013
If an Indian Company takes services of an intermediary company registered and situated in USA to receive the payments from its USA based client because of currency conversion issue.
The intermediary will deduct its brokerage and remit the balance.
Then, will TDS be liable to be deducted on such brokerage charged by the intermediary.
If No, why?
If Yes, how much and under which section?
One thing more to mention that the intermediary does not hold PAN in India.
02 September 2013
Loads of thank you sir for replying.
Sir, if the foreign intermediary does not have a PAN, then what will be the TDS rate and under which section?
Also, a 50% shareholding director in Indian Company is also a major stakeholder in the Intermediary company in USA. He is ordinary resident in the said F.Y.
CAclubindia
