foreign remittance, Income Tax

[durga bhavani]

sir,

This is most urgent please suggest we are paing inspection to a foreign company  by filling form 15A & 15B, but bankers asking about TDS deduction and it is taking nearly 50000 i.e @ 20% on $ 100 @50/- it is over burden to us in the same we have to some more charges . but deducting TDS and we are not getting back and we can not claim that 50000 . please what is the actual act how to avoid this.

please suggest me we are facing lot of problem.

thanking you

bhavanigummadi@gmail.com

Posts / Replies

[r.rajkumar kumar]

The foregin company has to get pan no. and get exemption from income tax department

from tds. or they have to file reuturn in india for indian rupee income and get the refund. no other

way tds to be deducted.