Tds on foreign payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2013
Sir, A person carrying on a business of selling cash voucher in Euro currency in India.
He purchases Euro from a foreign company like U Cash voucher
e.g.
Mr. X sells/trf Euro electronically at some commission which is being utilized to pay foreign purchases
Mr. X purchases Euro from MNC (MNC is a foreign company having no PE in India)
For purchasing Euro, Mr X has to remit the money to MNC
Is Mr. X is liable to deduct TDS on such payment?
He purchases Euro from a foreign company like U Cash voucher
e.g.
Mr. X sells/trf Euro electronically at some commission which is being utilized to pay foreign purchases
Mr. X purchases Euro from MNC (MNC is a foreign company having no PE in India)
For purchasing Euro, Mr X has to remit the money to MNC
Is Mr. X is liable to deduct TDS on such payment?
CA. Anuj Gupta
(Expert)
09 November 2013
Legality of business needs being done needs to be checked in terms of FEMA .
Anuj
femaquery@gmail.com
Anuj
femaquery@gmail.com
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