chinnu (Charterred Accountant) (25 Points)
15 June 2009
A parent a company (a company registered in Canada) obtaines the services of a Lawyer based in UK on a loan transaction (ECB) entered in India with a Foreign Branch of an Indian Bank. However the payment for the services is to be made by the Indian Company. Request comments on the applicability of TDS provisions
ayyappa
(CA Final)
(81 Points)
Replied 15 June 2009
As per sec. 195, Payment of other sums to the Non-resident-->any other income -->if receipient is a non-resident and non corporate assesse and aggregate payment does not exceed 10 lakhs, then TDS to be deducted @ 30.9% , otherwise 33.99%.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
