TDS u/s 195 - reinsurance premium ceded to non-resident ...

Reinsurance premiums to non-resident reinsurers exempt from TDS in India u/s 195 and not disallowed u/s 40(a)(i).

September 27, 2022

Case Laws Income Tax AT

TDS u/s 195 - reinsurance premium ceded to non-resident reinsurer is not taxable in India under the Income Tax Act, 1961 or under DTAA between India and respective countries where NRRs are tax residents and thus, on impugned payments the assessee is not liable to deduct TDS u/s.195 of the Income Tax Act, 1961. Consequently, payments made to NRR cannot be disallowed u/s.40(a)(i) of the Act, 1961. - AT

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TDS u/s 195 - reinsurance premium ceded to non-resident ...

Reinsurance premiums to non-resident reinsurers exempt from TDS in India u/s 195 and not disallowed u/s 40(a)(i).

September 27, 2022

Case Laws Income Tax AT

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