Withholding tax by Customer in Sri Lanka
This query is : Resolved
13 July 2010
We are into Telecom software product and services business. Our Customer in Sri Lanka has recovered withholding tax. Can we take the tax credit of the withholding tax recovered by them against the income tax payable by us on our profits.
13 July 2010
Hi Shilpa
Govt of India has entered in agreement for avoidance of double taxation with 57 countries(ADT) sirlanka is also included in this 57....As per agreement income in chargeable in both countries...However the country of residence of the taxpayer allows him credit for the tax charged in other country....so u can adjust against income tax payable....
Govt of India has entered in agreement for avoidance of double taxation with 57 countries(ADT) sirlanka is also included in this 57....As per agreement income in chargeable in both countries...However the country of residence of the taxpayer allows him credit for the tax charged in other country....so u can adjust against income tax payable....
13 July 2010
Hi Shilpa,
The Double taxation avoidance agreement between GOI and GOS is available in IT website ( pl ref to the following link)
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?fn=http://law.incometaxindia.gov.in/Directtaxlaws/cbdt/dta/A1_Sri_Lanka.htm
The Double taxation avoidance agreement between GOI and GOS is available in IT website ( pl ref to the following link)
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?fn=http://law.incometaxindia.gov.in/Directtaxlaws/cbdt/dta/A1_Sri_Lanka.htm
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
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
