Hello,
I have a query on TDS for foerien payments.
we running a construction company and purchasing some raw materials & finished products from outside India. so while making advance payments to vendors, is there any TDS apply? if apply which section I need to consider?
Thanks.
4 Replies
Rishab Jain
(Audit assistant)
(79 Points)
Replied 07 July 2019
As per the combined reading of the provisions of sec 9 , 90 and sec 195 Income Tax Act, 1961, imports of goods are not liabke to tax in India subject to some conditions.
So normally there is no liability of TDS. And you can import and make advance payments without any TDS and form 15CB.
Rishab Jain
(Audit assistant)
(79 Points)
Replied 07 July 2019
As per the combined reading of the provisions of sec 9 , 90 and sec 195 Income Tax Act, 1961, imports of goods are not liabke to tax in India subject to some conditions.
So normally there is no liability of TDS. And you can import and make advance payments without any TDS and form 15CB.
Jani Bhasha
(student)
(47 Points)
Replied 07 July 2019
Okay Thanks,
If suppose we are taking technical services from outside India. that time TDS can apply?
If suppose we are taking technical services from outside India. that time TDS can apply?
Rishab Jain
(Audit assistant)
(79 Points)
Replied 07 July 2019
It's my pleasure!
Yes then TDS shall be applicable.
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