Tds on freight payment for import of goods

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

24 March 2012 Dear friends,
Pls advise me on below transaction:-
co. has imported goods and now they want to make payment for freight for same to non resident shipping co./agent.
1. i have to prepare form 15CB, pls confirm me if TDS is to be deducted on said freight payment to non resident shipping co.
2. co. has to furnish declaration "that payment is being made to the non resident engaged in the shipping business, for carriage of passengers, livestock mails and / or goods shipped at port of India and such non-resident is liable to pay Income Tax u/s 172 of Income Tax Act, 1961"
Pls advise me at earliest.
Regards
CA Abhinav Garg
9999923487
ca.abhinavgarg @ yahoo.co.in

Arihanth Jain

Arihanth Jain (Expert)
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28 March 2012 1. TDS shall be nil.
2. Question seems unclear.

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2012 Dear Arihanth Kumar Jain, pls advise as per section 195 and 172.

if TDS is nil then why bank is asking to furnish declaration that said non resident shipping co./agent is liable to pay incometax under section 172.

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