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Letter of Credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 August 2010 Openig of LC for making payment towards License & Engineering fees to a Foreign Company. Whether the Letter of Credit has to be opened on the amount net of TDS under section 195 of the income tax act or the Invoice value.
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CA SMR

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CA SMR (Expert)
20 August 2010 I doubt if LC can be opened towards import of services from Foreign company,it is applicable only towards the import of goods.

More opinion is solocited.
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
04 August 2023
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