TDS on demurrage paid to overseas supplier

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... TDS on demurrage paid to overseas supplier
Query (Issue) Started By: - Shyam Naik Dated:- 10-4-2017 Last Reply Date:- 11-4-2017 Income Tax
Got 2 Replies
Income Tax
Dear Experts, We are c .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... oal importers. The contract with the supplier provides that the Coal shall be supplied on CIF basis. Accordingly, the sea freight is paid by the foreign supplier. The contract provides for a time, wi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... thin which, we are required to discharge the cargo. In case the discharge gets completed before the time allowed, we are eligible for some refund. Similarly, in case there is delay, we are liable to p .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ay an agreed amount to the seller. This amount is referred to as demurrage. Whether, the amount of demurrage payable to overseas supplier is liable for deduct of TDS u/s 195. Kindly opine. Thank yo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... u. With due regards, Shyam Reply By Ganeshan Kalyani: The Reply: In my view No, but i welcome views of colleague experts. Thanks. Reply By MARIAPPAN GOVINDARAJAN: The Reply: In my view TDS is r .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ecoverable. I came across some case laws in this regard.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X