ABC company of USA has filed civil law suit against XYZ company of India in the court of USA alleging breach of confidentiality and misappropriation of trade secret. Now both the parties have agreed mutually to fully settle the dispute, wherein XYZ company will pay sum of USD 250000 to ABC company, and ABC company will withdraw the case. Q1. whether such payment made by XYZ company will be deductible expense from business income? Q2. Under which section TDS will be applicable and at what rate? Q3. under what expense head such payment should be booked in profit and loss…
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Public limited co making payment of Dividend to NRI share holder. This payment is credited to his NRE account in Indian Rupees. Whether in this situation Form 15 CA and CB is required. Does this amounts to remittance to NRI, even though payment is credited in bank account maintained in India.
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The assessee entered into a contract with an architect firm to provide design, drawings, structural drawings, interior designs etc. for a project for a period of three years. Please advise as to whether the TDS would be made u/s 194C or O194J, If u/s 194J then what would be rate of TDS i.e. 2% for technical services or 10% for professional services.
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TDS on payment made outside India for settlement of dispute