Amount paid to foreign company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2013 Sir

i am working in PSU where our company has given a contract to a non-resident company for supply of plant and machinery.and foreign company has given lower deduction certificate u/s 197 of Income Tax Act. our PSU is paying money in Indian currency. we are currently deducting TDS in U/s 195 on income tax.

whether we are correct or not. please guide me form no 15CA and 15CB will be applicable in in this case?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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02 August 2013 yes currently you are correctly deducting u/s 195.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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28 October 2013 Yes you shall be required to comply with 15CA/CB provisions.

Anuj
femaquery@gmail.com

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