30 June 2012
MY CLINT IMPORT A MACHINE FROM JAPAN FOR INSTALLATION NRI COMPANY CHARGES A HUGE AMOUNT CLINT DEDUCT TDS @ 10% BUT NRI HAVE NO PAN OF INDIA NOW WHAT THE PROCEDURE TO SHOW THIW TRANSACTION IN TDS RETURN
For the above case, you please the DTAA with Japan. Section 195 of IT Act is applicable for the above case. Since there is a remittance outside INDIA is invloved.
Now as far as TDS rate is concerned. The rate shall be the lower of 20% or rate prescribed in DTAA.
You can refer the DTAA with relevant country for DTAA rate.
The procedure is You get a certificate from a CA in form 15 CB then file 15CA online then submitt in duplicate the above forms to the remitting bank.
As far as tds return is concerned . Yes, you need to file a quarterly return showing the payment made and tax deducted with relevant details in Form 27Q.
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