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Withholding tax

Mar-12th-2010

Whether withholding tax is required to be deducted on import payment to non resident, who have permanent establishment in India? If required than what will be the rate of deduction?

CA Sandeep Soni

Replies

  1. Editor Said,

    If you have import through PE in India then TDS deductible on the attributable profit of the PE u/s 195. TDS Rate is 30% in the case of non corporate assessee and 40% in the case of corporate assessee (Plus surcharge & education cess as applicable). You have to disclose the fact in Form 15CA at the time of remmittance.

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  2. CA Sandeep Soni Said,

    How this profit percentage will be determined? Is there any deemed ratio for Tax deduction or the PE need to obtain from IT Dept.?

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  3. Editor Said,

    Ratio of attributable profit will provide the PE.

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