Thread Started by #maestrocreations

Dear seniors, I am proprietor of a company dealing with exhibition. My firm taking order from companies (india and abroad) for exhibition stand construction and giving the job to foreign partners. Similarly after getting the invoice from the partners I used to remit the amount to their account. My question is whether I should deduct TDS from the transfered amount or not? None of my partners are willing to deduct TDS. Is it exempted from TDS? Looking forward to hear from you all. Thanks in advance
2nd July 2013 From India, Ghaziabad
NO you need not to deduct TDS but FORM 15G Should be submitted to your bank which is certified by a Chartered Accountants
If you have any query then just contact me at the following details.
With Regards
Chandan Singh
Chartered Accountants
+91-9818167585,8285184124

6th July 2013
Dear Sir,
Thank you for your reply.
I hope Form 15G is not for firms, and have some limited income brackets. I have given reply to the IT Dept. that the Income accrue and arise from outside India and the payment made outside to non resident. Is my reply is correct?
15th July 2013 From India, Ghaziabad
Yes you must deduct TDS from payment to outward remittance,its Compulsory as per rules of IT and also FEMA
30th July 2013 From India, New Delhi
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information and resources for business and professional growth. Register Here
Prime Sponsor: TALENTEDGE - Certification Courses from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2017 Cite.Co™