TDS on Foreign Remittance


TDS ON FORRIGN REMITTANCE

As Per Section 195 TDS shall be deducted on the payment made to Non Resident at the prescribed rate. As per RBI Guidelines , Every payment except some specifically exempted payment shall be attached with Form 15 CA along with a certificate from a Accountant in Form 15 CB.


Procedure of Foregin Remittance :

  1.    The person making payment shall obtain a certificate from accountant in Form 15CB providing details in Form.
  2.      The Person shall file a form 15CA electronically from following Website.     https://onlineservices.tin.nsdl.com/TIN/JSP/tds/enterForm15CA.jsp
  1. 3    Write on the acknowledgement number generated by the system for future references.
  2.  4    Take print out of Form 15CA and get signed by authorized person.
  3.  5   Submit the duly signed form 15CA , 15CB and copy of bills to the RBI or any other authorized dealer.
  4.  6   Exchange Rate used for the payment shall be used for deposition of TDS .
  5. 7   For Further clarification visit the following website .            https://onlineservices.tin.nsdl.com/TIN/JSP/tds/Guidelines.html

TDS shall be deducted as per DTAA (Double Taxation Avoidance Agreement) between both the country.