Withholding Tax is an obligation on the payer to withhold tax at the time of making various payments such as rent, commission, salaries, professional fees etc. at the rates specified in The Income Tax Act. Indian laws are stringent on compliance of these laws and provide for prosecution in cases involving Non Payment of deducted taxes.
There is extra caution required while making payment to foreign companies, to check if withholding provisions are triggered for the particular payment. Also, each transaction should be looked at differently from the standpoint of Indian Income Tax provisions and Double Tax Avoidance Agreement (DTAA) entered with the concerned country.
With years of experience in managing compliance requirements by adhering to timelines, we can help you with a one-stop solution for processing and deposit of withholding taxes and managing compliance requirements and all related advisory services.
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