[aaykarbhavan] Technical Knowhow taken from foreigner firm reg

Dear Sirs, / Members

 

Same  Problem with me

 

My Question is as under:

 

1. My firm has made contract for the technical fees for the seting up a New machine in india witht the help from foreigner co., Under terms of contract  Details of machine  and drawing ( Technical Knowhow) are proving from Foreign firm and same is made in India. In short Foreigner firm provide only techincal knowledge.

 

Q-1 Now can we liable the deduct of TDS from their payement?

 

Q-2 If yes pl. suggest under which section and how many percent ?

 

Q-3 We have not mentioned TDS matter in contract. Hence, foreigner firm we not give the reimburse the same amount to us. So, Can we Calim the said amount in profit loss A\c as TDS Expense?

 

Please Help. Thanks in advance.

 

With Regards

Sandip Parekh

 

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