Tds variations
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2012
Can export to nepal be invoiced in INR and can payment be realized in INR too according to FEMA act and ACU mechanism plz let me asap
Guest
Guest
(Querist)
30 May 2012
Dear Sir / Mam,
If a company does editing or mastering or does VFX on a project (a movie / serial), & if we are giving cheques in the name of the company then should we deduct TDS as per professional fees or TDS as per contract??
Bottom Line, when should we apply TDS on professionals & TDS on contracts? & what should I apply for the above situation.
If a company does editing or mastering or does VFX on a project (a movie / serial), & if we are giving cheques in the name of the company then should we deduct TDS as per professional fees or TDS as per contract??
Bottom Line, when should we apply TDS on professionals & TDS on contracts? & what should I apply for the above situation.
30 May 2012
AS PER FOREIGN TRADE POLICY2010-11 PARA 2.40 :- ALL EXPORTS CONTRACT & INVOICES SHALL BE DENOMINATED EITHER IN FREELY CONVERTABLE CURRENCY OR INDIAN RUPEES BUT EXPORT PROCEED SHALL BE RELISED IN FREELY CONVERTABLE CURRENCY.
in view of above , no effect occurs.
Regards,
in view of above , no effect occurs.
Regards,
30 May 2012
must read:
http://www.cbec.gov.in/excise/cx-act/notfns-2k1/cent45c-2k1.htm
http://www.cbec.gov.in/excise/cx-circulars/cx-circ12/961-2012cx.htm
http://www.indiandata.com/trade_policy/export_procedures.html
http://www.cbec.gov.in/excise/cx-act/notfns-2k1/cent45c-2k1.htm
http://www.cbec.gov.in/excise/cx-circulars/cx-circ12/961-2012cx.htm
http://www.indiandata.com/trade_policy/export_procedures.html
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