The provisions of Income- tax act impose an obligation on customer (i.e., recipient of service) to withhold certain portion of payment as tax deduction at source. Accordingly, the customer deducts such portion and releases the balance amount. Assuming TDS rate is 10% and bill value is Rs. 50,000/-, service provider would get Rs. 45,000/- in […]
A sale transaction between a non-resident (NRI) seller and resident buyer needs planning by seller and buyer shall take abundant caution. In most of the cases, misconceptions in the minds of buyers resulting into serious non-compliances and lack of awareness among sellers resulting into liquidity crunch. Through this article, I am making an effort to […]
