foreign remittance

[Asked by Guest]

sir,

This is most urgent please suggest we are paing inspection to a foreign company  by filling form 15A & 15B, but bankers asking about TDS deduction and it is taking nearly 50000 i.e @ 20% on $ 100 @50/- it is over burden to us in the same we have to some more charges . but deducting TDS and we are not getting back and we can not claim that 50000 . please what is the actual act how to avoid this.

please suggest me we are facing lot of problem.

thanking you

[email protected]

AI Summary

Tax Deduction at Source: foreign payee must obtain PAN or claim TDS exemption, otherwise payer must deduct TDS.
When an Indian payer remits payment to a foreign company, the payer must deduct tax at source unless the foreign recipient obtains a PAN and secures a TDS exemption or files an Indian tax return to claim a refund; absent exemption documentation, banks and payers must withhold tax.