| Question And Answer | |
|---|---|
| Subject: | TDS ON IMPORT AND EXPORT OCEAN FREIGHT |
| Category: | Income-Tax |
| Querist: | Karan shah |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | TDS |
| Date: | April 13, 2023 |
What will be the TDS liability in case of :
1. IMPORT FREIGHT PAID TO INDIAN SHIPPING COMPANY
2. IMPORT FREIGHT PAID TO FOREIGN SHIPPING COMPANY
3. EXPORT FREIGHT PAID TO INDIAN SHIPPING COMPANY
4. EXPORT FREIGHT PAID TO FOREIGN SHIPPING COMPANY
5. ON WHAT AMOUNT TDS WILL BE APPLICABLE. INVOICE INCLUDES FREIGHT CHARGES, PORT CHARGES, MATERIAL HANDLING CHARGES ETC
The terms of the contract and the nature of the payment would have to be understood for understanding under which section of the Income-tax Act, 1961, tax has to be deducted.
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Atleast if you can provide some brief about tds deduction.
Terms of payment after shipment reaches destimation. No such agreement executed. Order given to shipping company to ship goods in or outside india
applicability of tds on transportion chargs by sea and agency charges paid to indian company