04 December 2010
TDS is required to be deducted under Sec. 195. Rate is 20% plus education cess. If the payment is more than 1 crore, surcharge is applicable. Before making the remittance, you need a certificate from an accountant in form 15CB. The information is required to be uploaded in departmental website- form 15CA. Without such procedure the Bank will not remit the amount.
Normally on such long term capital gain tax is 10 % but you said that we need to deduct TDS @ 20%+ edu. cess.
I came to know that we can take a special permission from Joint commsioner of IT & deduct the TDS @ 10% i.e special rate.
See actually being a forgien company they can not file a return in India & go for refund.Can you please advise detail process of how we can get such persmission & whether this will work ?