Tds return filing - Payment to foreign company

[HIMANSHU JARIWALA]

Company A ltd. is Indian co. and has imported machinery from foreign supplier. Supplier has also raised bill for erection of machinery separately. payment for the same was made after deducting TDS as per DTAA with the country of supplier after following procedure u/s 195 and filling form no. 15CA and 15CB. Now, Indian co. is required to file TDS return for the same? If yes, in what form and what about the PAN of that foreign Co.

[Rama Krishana]

In every case where TDS has been deducted and deposited, a return is required to be submitted. Rule 31A of the Income Tax Rules, 1962 prescribes the forms and declaration to be filed for TDS. It is Form 24C and 27Q

AI Summary

TDS return filing required where tax is deducted under section 195; file prescribed nonresident TDS forms after deposit. Where tax is withheld from payments to a foreign supplier under withholding obligations following the DTAA and procedure under section 195 with Forms 15CA and 15CB, a TDS return must be filed for the deducted and deposited tax; Rule 31A specifies the applicable return forms as Form 24C and Form 27Q.