Withholding tax
This query is : Resolved
31 May 2012
Dear All,
We have deducted TDS @ 10.3% on import service & made a outward remittance.
Service provider did not have any PAN.
Now, we have to issue the certificate.
Please tell which form to issue them & how to get it.
We have deducted TDS @ 10.3% on import service & made a outward remittance.
Service provider did not have any PAN.
Now, we have to issue the certificate.
Please tell which form to issue them & how to get it.
31 May 2012
It deductee dont hav PAN no 20% rate will apply. Issue form 16A
31 May 2012
Please somebody be more clear. Difference between TDS & Withholding Tax.
31 May 2012
Ananth, both are same. When payment is to non resident it is termed as withholding tax.
Further since you have deducted under Indian tax laws sec 206AA shall be applicable and TDS @20% needs to be deducted. Hope you checked DTAA for beneficial provisions, if any.
regards.. cavishalshah@gmail.com
Further since you have deducted under Indian tax laws sec 206AA shall be applicable and TDS @20% needs to be deducted. Hope you checked DTAA for beneficial provisions, if any.
regards.. cavishalshah@gmail.com
31 May 2012
Dear Ananth,
In case of Payments made outside India and the Payee does not have PAN ,then tax will be deducted as per section 206AA.This section has an overriding effect on any other provisions of Income Tax Act (even Sec 195 relating to TDS provisions to foreigners)
As per provision of section 206AA the rate of TDS is @20% ,however no cess and surcharge will be imposed .
In case of Payments made outside India and the Payee does not have PAN ,then tax will be deducted as per section 206AA.This section has an overriding effect on any other provisions of Income Tax Act (even Sec 195 relating to TDS provisions to foreigners)
As per provision of section 206AA the rate of TDS is @20% ,however no cess and surcharge will be imposed .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
