TDS On non residents
This query is : Resolved
22 December 2009
What is the percentage of tds to be deducted on non residents and what is the BEL ?
22 December 2009
U/S 195 Rates of taxes as specified in 1. Finance act of the relevant year or 2. Double taxable avoidance agreed entered by CG u/s 90 or 3. Agreement noticed by the CG u/s 90A which is most beneficial, shall apply
No TDS by an offshare banking units on internet
No TDS by an offshare banking units on internet
22 December 2009
194E Payment to nonresident sportsmen or sports association 10%
195(d)Income by way of interest payable by Government/Indian concern on money borrowed or debt incurred by Government or Indian concern in foreigh currency 20%
195(b)Income by way of long-term capital gains 10%
195(c)Income from other long-term capital gains 20%
195(a)Income from foreign exchange assets payable to an Indian citizen 20%
195(d)Income by way of interest payable by Government/Indian concern on money borrowed or debt incurred by Government or Indian concern in foreigh currency 20%
195(b)Income by way of long-term capital gains 10%
195(c)Income from other long-term capital gains 20%
195(a)Income from foreign exchange assets payable to an Indian citizen 20%
23 December 2009
If you think that the amont to be remitted is not taxable income in India, then the deductor or deductee may obtain permission from the AO of international tax department under section 195 (2) or section 195(3), as the case may be.Recently the AP High Court in the case of Samsung Electronics Corporation has ruled that even if the amount sought to be remitted is not taxable inIndia, the deductor has to deduct tax at source u/s 195(1). For making remittance by deducting tax at lower rate or without deduction of tax, the certificate should be obtained from the AO.
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