Apurva Khandelwal (Sales) (46 Points)
07 August 2012We have provided some consultancy to a foreign company to sell there material to another foreign company , for which we would receive commision in USD. What would be the Income Tax Implication will come for this type of transaction. Secondly what type of Inovice should I raise a commsion invoice or consultancy invoice .
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 08 August 2012
The commission received in USD would get converted into INR at teh applicable rate when the USD was received. that would get added to your professional income in your Income & Expenditure A/c.
As you have provided consultancy you would provide your consultancy Invoice. Please also check if the foreign has witholded any tax on account of commiccions payment.
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