Dear All, Indian subsidiary comp. (Pvt Ltd Co) deduts TDS on some invoices raised by Foreign Parent Comp. relating to technical support services provided by the parent co. Whether is it compulsorily for Foreign Parent Company to file ITR. PAN No has been allotted to Foreign Parent Co. Reagrds, Vivek
2 Replies
valji
(Accounts manager-MBA)
(2150 Points)
Replied 15 September 2011
it is not compulsoery but if parenat company want tax benefit then it may file return
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 18 September 2011
Sec. 139 which governs the return filing by an assessee who earns income from india doesn't exempt foreign companies to file return of income . hence it is mandatory for foreign firms to file return of income in india.
For return filing the foreign company need to have PAN and that way they can also claim extra TDS deducted(if any) by the Indian company.
Anuj
+91-9810106211
femaquery @ gmail.com
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