TDS on Online Payments to Foreign Companies| Taxation in India | Sarthak Ahuja

#TDS #Foreign company #Taxation
TDS on Online Payments to Foreign Companies
Payments to PayPal, online database or subscriptions purchased through credit card require TDS deduction. Briefly touching on section 195 of the Income Tax Act
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.
Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.

[@kumawatsuresh9333]

Good knowledge sir thanks a lot
You resolve my problem thanks again

[@sandyj342]

Very clear and simple explanation!

[@sarvdeepsingh9057]

I made a payment to a foreign entity with my debit card. But I paid in inr and not usd. Still bank deducted 20% TCS but they collected it under section 194N and not 195. What to do. My aadhar card and pan are linked so I don't think I should be charged so high tcs

[@srinivasgogula7235]

Indian Libraries make online payments or through
cheques/RTGS/foreign remittances towards annual or long-term subscriptions of
online research magazines, journals and other publications to both Indian and foreign publishers. Do those payments require TDS? sir, please clarify about this doubt.

[@urmitgoyani8463]

Sir I have a proprietor company in India 🇮🇳and I have all GST and all documents as per law and I have a another entity registered company in UAE 🇦🇪 where we do have a 2 person company one my wife and 2nd me.
Both company belong to IT business and at the time of remittance I do also produce 15CA And other documents as per law
But my bank want a D&B Report dun & Bradstreet report for beneficiary company means UAE 🇦🇪 company
Here I don’t know why bank needed this kind of details and is there any issue since I’m share holder of UAE 🇦🇪 company at 60% and 40% my wife
Please guide me and help me in this matter

[@AmitRelester]

when we deduct n pay TDS for Indian Companies as out of pocket expense, we claim a refund from them later, how does this work under TDS on Online Payments to Foreign Companies? How do claim a refund, the foreign company obviously doesn't have an Indian PAN or TAN?

[@AmitRelester]

?

[@roshan6533]

Yes, how is it possible?

[@vaibhavgupta2090]

I have the same question.
Let me know if you found the answer to it.

[@TEKNOTIPS]

Have you found any answers??

[@Handler135]

voice is too low