CBDT clarifies key rule related to TDS on overseas payments Delhi : The Central Board of Direct Taxes has clarified to field officers that the requirement of deducting tax at source when a person makes payments to non-residents or foreign companies should be enforced only on that part of the remitted amount that accounts for the recipients income chargeable to tax in India. The Board also told the officers that the amount chargeable to tax in India could be determined by the income component in the total payment made, the nature of remittance and any other relevant information. The clarification comes after field officers sought clarity on the issue.
Posted on: Sat, 15 Mar 2014 03:25:50 +0000
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