10 December 2009
Question is re TDS applicability and Rate of TDS under section 195 of IT Act'1961. Brief facts of the case is as follows-
Parent company is an US company providing Data base/Magagine etc online (Online Subscription and data base maintained by it. Parent Company directly provides database to Indian Customer. However, to raise invoices and collect payments from Indian Customers, a subsidiary company(Pvt Ltd) is in India which acts as a facilitator by raising the bills and collectiong payments to/from Indian Company and subsidiary company, finally, remits the amount so received to parent company net of its Commission.
CAclubindia
