On reading of section 206 AA applicable from 1/04/2010 your vies seems to be wright and each and every non resident if receiving payment will have to obtain PAN number other wise tax would be dedcuted at the higherst of following
1. rates at relevant provisions of the act 2. rates or rates in force as defined u/s 2 937A) of the act where rates of section 195 refers to DTA rates 3. rate of twenty person. No doubt there is an exce[ption in section 90 that if teh rates of DTA are beneficial to the assessee that shall apply to it at his option. But probklem is that section 206 AA starts with a non obstante clause " Nothwithstanding any other prpovision sof the act, therfore it has alos supersesded the provision of section 90. Therfore it semms rates will have to be 20 % in those cases to avoid disallowance u/s 40a(i) . Issue will also arise in case of certificate by a chartered accountant to certify at what rate tax should be deducted. . Prashant M Maharishi B.Com., F C A , DISA (ICA) Partner Maharishi & Co., Chartered Accountants Aparna Behind Jeevandeep Hospitals , Near Hotel Bansi , Limda Lane, Jamnagar 361001 Gujarat Phone: 0288 2665023, 2665024, 2662637, 2542491 2542492 fax: 0288 2661612 Handheld: 9824039641 email :- [email protected], [email protected], www.maharishiandco.com On Sat, Aug 22, 2009 at 1:30 PM, K.Sankarasubramanian (Finance/TVS-E) < [email protected]> wrote: > *Dear Sivaraman & others* > > * * > > *U/s 206AA w.e.f. 01.04.2010, TDS non resident payments u/s 195 for “PAN > not available cases” shall be higher of (a) rate in the relevant provision, > (b) rate or rates in force; or (c) 20%* > > * * > > *In case the NR payment is covered under DTA and suppose only 15% TDS > under DTAA, - which TDS rate shall be applied ? is it 206AA @ 20% .. or DTAA > @15% ?* > > * * > > *Pl give your opinion and how to conclude* > > *Thanks* > > *KSS*/22.8.2009 > > *K Sankarasubramanian * > > *Taking IT to the heart of India* > > *Senior Manager - Finance* > *TVS Electronics Limited > *DP,34 South Phase, > Industrial Estate, Guindy, > Chennai 600 032. India. > > Tel : +91-44-42275333 > Fax : +91-44-22327577 > Mob : +91-98400 93176 > Mail : [email protected] > Web : www.tvs-e.in > ------------------------------ > The information transmitted is intended only for > [email protected] and may contain confidential / > privileged material. Any review, retransmission, dissemination or use, in > part or in full of this information by any other than the intended recipient > is prohibited. If you have received this in error, please return to > [email protected] and delete the material. This mail is virus > protected. However please virus scan before you open or detach documents > from this transmission. We are not liable for any damages that may occur > caused by any virus. > > > > > > -- Prashant M Maharishi B.com, F.C.A., DISA (ICA) Chartered Accountant Maharishi & CO, Chartered Accountants Aparna Behind Jeevandeep Hospital, Near Hotel Bansi, Opp. Ganesh Appartment, Limda Lane , Jamnagar 361001 Gujarat India. Phones:- +91288-2665023 2665024 2662637 Fax +91288 2661612 email : [email protected] [email protected] Handheld :- 09824039641 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/skorydovmytaxassistant?hl=en -~----------~----~----~----~------~----~------~--~---
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