Urgent - Foreing Remittance - TDS u/s sec. 195

Dear Dilen,

Please find below answer to your questions;

1) IRDA/FEMA puts restriction on Foreign insurer to insurer properties of/in India. Incase if foreign Insurer enter into such transactions, the Income of Non Resident shall be taxable in India and Section 195 shall come into action.

2) Yes, as explained above.

3) Rate of TDS shall be 40% + Surcharge (if applicable) + additional surcharge (alwayz applicable). I have refered TDS rate section of WIRC Ref Manual 09-10 and m surprised about its content.

4) Regulation FEM (Acquisition and Transfer of Immovable properties in India) 2000,  set restriction on acquisition of Immovable properties by Foreign Companies/Foreign Nationals. Irrespective of restriction/without RBI permission if Foreign Company enters into Rental transaction, the rental Income shall be taxable in India and TDS shall be applicable at the rate mentioned in reply "3".

Plz suggest/advice if m wrong.

Regards

Juzer