Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: due date for vat payment :: VAT Audit :: TDS :: list of goods taxed at 4% :: VAT RATES :: Central Excise rule to resale the machines to a new company :: cpt
 
 
« News Headlines »
 All you should know while filing Form GST TRAN-1
 What is Goods and Service Tax?
  Income Tax department open to reducing withholding tax for companies
 How to respond to a tax notice under section 143
 Income-tax (22nd Amendment) Rules, 2017
 All about Exports under GST
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional

Exporters protest Indias tax overdo
May, 09th 2014

Engineering Export Promotion Council (EEPC) on Thursday alleged that the income tax (I-T) department has sent notices to exporters asking them to subject their foreign agents in overseas to the tax deducted at source or TDS. EEPC said that that the tax department expects overseas nationals to claim the refunds from the Indian tax authorities.

It urged the commerce and finance ministries to remove uncertainty in this regard in the next foreign trade policy. “Even though, there is a High Court judgement that the TDS cannot be levied on the commission earned by foreign agents on exports, the situation is not clear because of certain circulars by the Central Board of Direct Taxes (CBDT). This is causing a lot of inconvenience to the exporters who are finding it difficult to engage agents abroad in this backdrop,” said EEPC India chairman Anupam Shah.

Mr Shah said that several exporters have been receiving notices in this regard. EEPC said that an estimated $15 billion claimed to have been paid as commission to foreign agents. The commission varies between 3 and 5 per cent and India’s total exports are about $312 billion. On this $15 billion, the Indian taxmen would like to impose. This amount can be subject to 10 per cent TDS on the foreign agents.

EEPC said that given the complexities of the international markets, the agents are a must, especially for the small and medium sized exporters who do not have wherewithal to scout for new markets. “How do you expect a foreigner to come and claim the TDS refunds. He is not an assessee in India and yet our taxmen would impose TDS on foreign commission. This is strange and totally not workable,” said Mr Shah.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions