We are importing materials From China. We are getting the facility of 180 days Payment from foreign bank SBI Shanghai. our bank is HDFC Ahmedabad.
For exaple : Principle amount 1000 $
Foreign SBI China Charged interest : 50 $
Total ramittance 1050 $. Now we should deduct TDS U/S 195 on Usance interest amount
| Originally posted by :Guest | ||
| " | we having a business of Insurance Brokers, for the remiitance to UK we have going to appoint a consultant in UK. consultancy fees paid by monthly fix amt. we want to know that the remittance, which will be paid after we confirm the appointment. will have to deduct TDS on consulancy fees.? reply soon please, it is urgent Regard, Shailesh Jariwala |
" |
| Originally posted by :Guest | ||
| " | Please claarify whether Income Tax to be deducted on Remittance (Payments) towards subscripttion for online data base to foreign compnay having no establishment in India.if yes then the threshold & rate of tax | " |
Dear Sir
Please clarify whether payment to Foriegn Company for availing right to acess data/magazine will attract TDS or not?
Thanks in Advance
| Originally posted by :PRADEEP BAGRI | ||
| " | Please claarify whether Income Tax be deducted on Remittance (Payments) for Import of Raw materials Chemicals from Chaina. And if Deducted then the rate of TDS be 30% plus EC. |
" |
Remittance towards Import of RM do not attract TDS liability. However, before remittance abroad one has to comply with procedural formalities prescribed (amended w.e.f 1st July, 2009) as per which remitter has to obtain Cert from CA in Form 15CB & submit / upload Form 15CA before making any pyt abroad whether any TDS is applicable or not. Refer attached Circular.
Hi i am teja, ihave a doubt that is , regularly we are importing raw meterial (Stain less steel and aluminium)from UK in this case we paid interest for delayed (late )payament(i.e actual grase period is 60 days but we paid the actual amount after 60 days because of that they have charged interest )for this interest do i need to deduct tds ? and is there any exemtion for this type of situation, 15ca or 15cb form will use full in this situation to avoid the tds.
we want to know rate of tds for the remittance of USD TO THE FOREIGN AGECY TOWARDS PROCURING ORDERS FOR US
I am mukund,
Please give me suggestion regarding service payment to Austrian Company. TDS applicable or not?
Please claarify whether Income Tax to be deducted on Remittance (Payments) towards subscriptttion for online data base to foreign compnay having no establishment in India.if yes then the threshold & rate of tax
Please clarify whether payment to Foriegn Company for availing right to acess data/magazine will attract TDS or not?
CAclubindia
