Whether tds is applicable or not ?
This query is : Resolved
20 April 2012
Case :
Co.XYZ has hired ship from Co.PQR situated at Dubai for providing shipping services to Indian customers for 1 month & delivery of ship will be given to Co.XYZ in Indian port. Further Directors of Co.XYZ are in relation of directors of Co.PQR. I want to ask whether TDS will be deductible if Co.XYZ makes payment to Co.PQR u/s. Sec.195? or a Chartered Accountant can give Form 15CB for no deduction of TDS? If yes TDS is deductible then at what rate after considering DTAA provisions with Dubai?
Co.XYZ has hired ship from Co.PQR situated at Dubai for providing shipping services to Indian customers for 1 month & delivery of ship will be given to Co.XYZ in Indian port. Further Directors of Co.XYZ are in relation of directors of Co.PQR. I want to ask whether TDS will be deductible if Co.XYZ makes payment to Co.PQR u/s. Sec.195? or a Chartered Accountant can give Form 15CB for no deduction of TDS? If yes TDS is deductible then at what rate after considering DTAA provisions with Dubai?
21 April 2012
Dear Friend, first find out the rate of TDS chargeable in DTAA with dubai. Since the case if renting of ship or hire of shipping services from foreign party. The TDS will be deductible u/s. 195 of the Act.
21 April 2012
Since services are rendered in India Indian Income Tax Laws will be applicable and No DTA will apply for TDS. If any contract work of dragging is done within 25 noctive miles then it is within India and TDS has to be deducted let the ship owner get the credit under DTA of his country
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Offsetting interest income against derivative trading losses
- Gst Sales of FY 2023-24
- Legal heir raised refund , but refund issued to the closed account of deceased.
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
