Withholding tax articles

Countrywise Withholding Tax rates as per IT Act vis a vis Tax Treaties/DTAA

Certain income of non-resident, inter-alia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the Income-tax Act or as per the rates prescribed under the DTAAs, whichever is more beneficial to such non-resident. ...

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Posted Under: Income Tax |

Countrywise Withholding tax rates / Chart as per DTAA

Country wise Withholding tax rate on Dividend (not being covered under Section 115-O), Interest, Royalty and Fee for Technical Services as updated with amendment carried out by Finance Act, 2018...

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Posted Under: Income Tax |

Section 195 TDS on payment of any other sum to a non-resident

Provisions of tax deduction at source (TDS) with regard to payment of any other sum to a non-resident is covered under section 195 of the Income Tax Act, 1961 which are explained hereunder....

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Posted Under: Income Tax |

Tax Deducted at Source on Payments to Non Residents

I am trying to start the series of Frequently Asked Questions on Payments to Non Residents. I have prepared the same based on my past experience and based on questions asked to me by my clients or professional colleagues....

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Posted Under: Income Tax |

Basic Understanding on Form 15CA and 15CB

Earlier, the person making a remittance to Non-Resident was required to furnish a certificate in specified format circulated by RBI. Basic purpose was to collect the taxes at a stage when the remittance is made as it may not be possible to collect the tax from the NR at a later stage....

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Posted Under: Income Tax |

TDS on Foreign Payment for Event to be held outside India

As per section 195(1) of Income Tax Act, any person responsible to for paying to a non-resident, not being a company, or to a foreign company, any interest or any other sum chargeable to tax shall, at the time of credit of such income or at the time of payment, whichever is earlier, deduct income-tax thereon at the rates as applicable....

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Posted Under: Income Tax |

Budget 2017-Person responsible for paying’ in case of payments covered U/s. 195(6)

The existing provisions of section 204 of Act, has defined the meaning of 'person responsible for paying' to include employer, company or its principal officer or the payer. Further clause (iii) of section 204 of the Act, inter alia, provides that in the case of credit or payment of any sum chargeable under the provisions of this Act...

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Posted Under: Income Tax |

All about Section 206AA read with Rule 37BC & recent Changes

All about Section 206AA of Income Tax Act, 1961 to be read with Rule 37BC of Income Tax Rules, 1962 alognwith recent changes as applicable from 24th June 2016 after considering the amendment effected by Notification No. 53/2016-Income Tax dated: 24.06.2016. Section-206AA Analysis (1) Notwithstanding anything contained in any other provisi...

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Posted Under: Income Tax |

Basics of Section 195 of Income Tax Act, 1961

To Whom does Section 195 applies? a) A resident Making Payment to Non-Resident and, b) A Non-Resident making payment to a Non-resident. As per Section 195, it says Any person responsible for paying to non-resident…any person not only includes Resident but also non-resident making payment to a non-resident...

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Posted Under: Income Tax |

How to e-File Form 15CA and 15CB

In this article we have discussed the procedure for e-filing of form 15CA and Form 15CB by remitter and Chartered Accountant using their digital Signature on e-filing website of Income Tax Department i.e. http://incometaxindiaefiling.gov.in...

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Posted Under: Income Tax | ,

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