Dtaa india and uk for article 13
This query is : Open
05 June 2012
INDIAN INSURANCE COMPANY WANTS TO MAKE PAYMENT TO UK BASED COMPANY WHICH IS HAVING PAN OF INDIA.
NATURE OF PAYMENT
1) INSURANCE CLAIM IN USD
2) SURVEY FEES (PROVIDED IN BOMBAY) IN GBP
IS THERE ANY LIABILITY FOR TDS ?
AND AT WHAT RATE?
NATURE OF PAYMENT
1) INSURANCE CLAIM IN USD
2) SURVEY FEES (PROVIDED IN BOMBAY) IN GBP
IS THERE ANY LIABILITY FOR TDS ?
AND AT WHAT RATE?
05 June 2012
Sir,
As per section 195 of the income Tax Act, 1961 TDS is required to be deducted on amount of income chargeable to tax in India rather than total payment.
So first you see whether the amount which you paid is taxable in india if yes than liability to deduct tax @ 10%.
I Think survey fees paid to the UK based company is taxable in india and regarding the insurance claim first we see about the location of the assets
With the hope that this information might be helpful to you
regards
CA Sagar Kotak
As per section 195 of the income Tax Act, 1961 TDS is required to be deducted on amount of income chargeable to tax in India rather than total payment.
So first you see whether the amount which you paid is taxable in india if yes than liability to deduct tax @ 10%.
I Think survey fees paid to the UK based company is taxable in india and regarding the insurance claim first we see about the location of the assets
With the hope that this information might be helpful to you
regards
CA Sagar Kotak
06 June 2012
As i think insurance claim is not taxable, hence not liable to deduct TDS as per section 195.
08 June 2012
If Insurance claim is received on capital assets, defined under head Capital gain, then it may be taxable otherwise not..
08 June 2012
no its not for capital asset. its reimbursment of expenses.
08 June 2012
so, its not taxable, hence not liable to deduct tax under section 195
12 July 2012
but what about Survey Fees Its professional charge
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