TMI BlogTDS on foreign payment+ section 206AAX X X X Extracts X X X X X X X X Extracts X X X X ..... Please confirm the rate of TDS in case of foreign payment. Rate as per Income Tax 10% Rate as per DTAA 25% Deductee has no PAN, so as per Section 206AA higher rate i.e. 20% Thanks Naveen Jain - Reply By rinki todi - The Reply = firstly as per section 90(2) , the rate that is beneficial as per income tax act or DTAA will prevail. therefore, rate of 10% will be applicable. secondly c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omimg to Section 206AA, as per the said section' Notwithstanding anything contained in any other provisions of this Act, any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVIIB (hereafter referred to as deductee) shall furnish his Permanent Account Number to the person responsible for deducting such tax (hereaf ter referred to as deductor), faili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng which tax shall be deducted at the higher of the following rates, namely: ( i ) at the rate specified in the relevant provision of this Act; or ( ii ) at the rate or rates in force; or ( iii ) at the rate of twenty per cent. In the above case the rate applicable as per IT Act 1961 is 10% whereas the rate applicable for non furnishing PAN is 20%, there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore rate of 20% will be applicable on the said payment - TDS on foreign payment+ section 206AA - Query Started By: - Naveen Jain Dated:- 11-2-2013 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
