Tds on forign commission
This query is : Resolved
07 August 2012
Dear Sir,
me doing trading business of furniture,me buy furniture from china & he take commission on sale bill than when i paid commission to this china party than we liable to deducted tds on this amount or not
me doing trading business of furniture,me buy furniture from china & he take commission on sale bill than when i paid commission to this china party than we liable to deducted tds on this amount or not
07 August 2012
Are you paying the commission in foreign currency and sending the commission in China?
07 August 2012
yeas sir i already paid the commission
07 August 2012
in dollar currancy
07 August 2012
Yes TDS would be applicable and as per Section 195 you have to obtain form 15CB from Chartered Accountant and furnish e-form 15CA through NSDL site. If the China party has PAN, then the TDS would be deducted @ 10% otherwise 20%
07 August 2012
if the commission amount is less than 5000 than tds applicable or not,only abouve 5000/- billing tds applicable
07 August 2012
You have to obtain form 15CB for any amount of foreign currency you will be sending abroad from Chartered Accountant.He will see to it then whether TDS will deducted or not.
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