Hi All,
I have a client ( Foreign Company) who has deducted Tax from the contractual payments made to a person looking after their India Entity. They are deducting this tax from December 2010 onwards but has not deposited that till date.
How can they deposit tax-through RBI or online as normally done?
does the same interest rate of 1.5% per month applies to foreign companies?
I oblige your reply.
Thanks!
| Originally posted by : Cherry Bansal | ||
 |
Hi All, I have a client ( Foreign Company) who has deducted Tax from the contractual payments made to a person looking after their India Entity. They are deducting this tax from December 2010 onwards but has not deposited that till date. How can they deposit tax-through RBI or online as normally done? does the same interest rate of 1.5% per month applies to foreign companies? I oblige your reply. Thanks! |
 |
First of all the foreign entity must have TAN for depositing TDS . They should deposit the same through online mode( if available)otherwise through normal means although the Income tax Rules require it to be online.
Interest rate shall be 1.5% from the date of deduction od TDS i.e.Dec 2010.
Anuj
0-9810106211
CAclubindia
