TDS deduction
This query is : Resolved
21 June 2010
The Pvt.Ltd.Company has purchased the material from China The details are as under
Purchase of Raw Material US $ 8370
Sea Freight with InsuranceUS $ 1300
Total US $ 9670
The comany has already remitted US $ 8370 in advance and now it has to remit balance amt of US $ 1300 which is equal to Sea Freight with Insurance .Now whether the Company is require to deduct TDS from this amount if answer is "yes" then what is a rate of TDS
P.N.Sabadra
Purchase of Raw Material US $ 8370
Sea Freight with InsuranceUS $ 1300
Total US $ 9670
The comany has already remitted US $ 8370 in advance and now it has to remit balance amt of US $ 1300 which is equal to Sea Freight with Insurance .Now whether the Company is require to deduct TDS from this amount if answer is "yes" then what is a rate of TDS
P.N.Sabadra
21 June 2010
In my view no Tax to be withheld since this income is not taxable in India.
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