Commission reciept

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ommission reciept<br> Query (Issue) Started By: - Gopal Shetty Dated:- 22-12-2014 Last Reply Date:- 27-1-2015 FEMA<br>Got 3 Replies<br>FEMA<br>Dear Sir, Mine is a proprietorship company in India. I am acting as an agent/consultant to a foreign company for export of goods of one country to another country (not India). For this , exporting company is remitting commission to my account in India. ( s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ay 2 to 5&#37; of invoice value) For this any TDS, service tax , and income tax applicable. From the commission received in above case ,I have to pay back 50 &#37; to a Foreign agent who is partner in this particular business. Whether I have to deduct tds, service charges/income tax Please help me in giving correct advice. thanks and regards Gopal Shetty Reply By Pradeep Khatri: The Reply: ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Dear Gopal, For query number 1 please check POPS Rules of Service Tax Laws in this regard. For query number 2 service tax would not applicable but check the provisions of FEMA before remitting the money out of India. Regards, YAGAY and SUN (Consultants - Business, Management and Indirect Taxation) Reply By Gopal Shetty: The Reply: Dear Sir, In the above question , my main point , whether ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....I can receive commission in India from foreign countries for the consultancy done in foreign countries . Is there any FEMA restrictions. Kindly help in giving advice in this matter. Regards Gopal Shetty Reply By Baranidharan S: The Reply: It is covered under FEMA current Account Transactions, there is no restrictions under FEMA for the payment. with respect to the deduction of TDS, contract b....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....etween you and your partner has to be checked. if it is on sharing basis and you are receiving the full amount and giving his share then it is a diversion of income and No TDS is applicable.<br> Discussion Forum - Knowledge Sharing ....