As we deal the various foreign client, we have a substantial amount of foreign withholding tax in our account. My question is that can we treat this entire amount as expenditure in sted of carrying it under Withholding tax category? Is there any other treatment that we can do with it? As per my understanding like the domestic withholding tax it is not refunded and if we are incurring loss we can't adjust the foreign with holding tax.Please help me. It urgent!!
08 October 2013
It is not like that you can't avail its benefit. The country with which we have DTAA, you can take advantage of taxes deposited by foreign companies and you can get refund also.
CAclubindia
