Tds applicability u/s 195
This query is : Resolved
08 January 2013
Payment to Foreigner against Roalty Commission Applicable for TDS Us-195 But the PAN No is not Available.
Pls Suugest TDS Rates & Also Suggest is it Applicable for NON PAN Rate @ 20%.
Pls Suugest TDS Rates & Also Suggest is it Applicable for NON PAN Rate @ 20%.
08 January 2013
IF PAN NO IS NOT AVAILABLE THEN DEDUCT TDS @20%
08 January 2013
Dear Nandlal..
Please look into the provisions of DTAA with rate of tax.. if it is lower than 20% then you can deduct at lower rate even if PAN is not available.. As the DTAA is a separate convention and taxation shall be governed by the provisions of dtaa if one opt for.
Please look into the provisions of DTAA with rate of tax.. if it is lower than 20% then you can deduct at lower rate even if PAN is not available.. As the DTAA is a separate convention and taxation shall be governed by the provisions of dtaa if one opt for.
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08 January 2013
Yes, Generally Such a Cases Must be Refer With DTAA Along With Income Tax Act.
As DTAA Agreement Overrides Income Tax Act.
& The Provision of "If PAN is Not Available Then Flat @20% rate" Overrides DTAA.
Regards,
As DTAA Agreement Overrides Income Tax Act.
& The Provision of "If PAN is Not Available Then Flat @20% rate" Overrides DTAA.
Regards,
08 January 2013
YES, PROVISION OF SEC 206A OVERRIDE THE PROVISION OF ENTIRE INCOME TAX ACT.
08 January 2013
Dear Yogesh,
Read With Section 206AA,
As per the amendments W.e.f 01/04/2010, on non-submission of PAN, Tax is to be deducted @ higher of prescribed rate or 20%.
Now, with the above amendment, in the absence of PAN, notwithstanding the fact that a lower rate is provided under the ITA or the tax treaty, tax is required to be withheld @ 20% in India.
Read With Section 206AA,
As per the amendments W.e.f 01/04/2010, on non-submission of PAN, Tax is to be deducted @ higher of prescribed rate or 20%.
Now, with the above amendment, in the absence of PAN, notwithstanding the fact that a lower rate is provided under the ITA or the tax treaty, tax is required to be withheld @ 20% in India.
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