TDS U/s 195(6)
This query is : Resolved
01 October 2010
Sir,
I have to make payment to foreign company as professional fees (techinical). Party has not furnished his PAN/He has no PAN. Please let me know whether I have to deduct 20 + 3% TDS or 10 + 3% (Payment is less than 1 crore)
I have to make payment to foreign company as professional fees (techinical). Party has not furnished his PAN/He has no PAN. Please let me know whether I have to deduct 20 + 3% TDS or 10 + 3% (Payment is less than 1 crore)
01 October 2010
you have to deduct the TDS @20.60% on gross amount and you have also deposit the Service Tax on reverse calculation
01 October 2010
Offcourse it is 20 + 3 %
Pls do not make mistake otherwise you ave to pay from your own pocket.
Pls do not make mistake otherwise you ave to pay from your own pocket.
01 October 2010
I agree with the above people.
You need to deduct @20% + Ecess as per the act
You need to deduct @20% + Ecess as per the act
03 October 2010
206AA has been made mandatory. If the payee does not furnish his PAN, as a punitive measure tax has to be deducted at enhanced rate. Pl. therefore, do not hesitate to deduct tax @ 20% plus attendant levies. If not you will have to bear the brunt of not only he tax difference, but also interest under section 201(1A), which can never be waived.
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