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Tds on foreign payment

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(Querist)
26 March 2012 We are a private limited company doing import business of sanitary wares. For a new model of shower enclosure as per our design, we contacted the foreign party and they are ready for doing that. But for the new mould,it will cost USD.30000/- Our question is whther we need to deduct TDS for this transaction. If yes what is the percentage of TDS.

Thaning you,
Naseer P.M
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Arihanth Jain

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Arihanth Jain (Expert)
28 March 2012 TDS shall be nil in your case.
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