The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the TDS is required to be deductible on the amount of commission paid to overseas agents. The assessee company is engaged in the business of manufacturing and sale of engineering tools. During the relevant assessment year, the Assessing Officer made an addition against the assessee holding that TDS shall be payable on the commission to the non-resident agents considering the fact that though the payment has been made for work done outside India the profit is actually earned in India.
Source Taxscan
Latest Posts in "India"
- India to Impose New Health and Security Tax on Tobacco Machinery, Amend GST Compensation Levy
- Punjab Trade, Tax Bodies Threaten Statewide Stir Over Delayed VAT, GST Refunds
- Briefing Document & Podcast: E-Invoicing and E-Reporting in India
- Meghalaya Extends VAT Exemption on Fruit Wine to 10 Years, Boosting Local Wine Industry
- Allahabad HC: Arbitrary GST Registration Cancellations Without Reasons Amount to ‘Economic Death’ for Businesses
