ADVISORY AND CERTIFICATION SERVICES FOR FOREIGN REMITTANCES

With India emerging as a global player largely due to the liberal Foreign Direct Investment (FDI) Policies, the cross border transactions have witnessed a surge in the recent past necessitating business entities to comply with the withholding tax regulations governing payments to non-residents/overseas entities by way for forex remittances.
The Income tax Act (Section 195) casts an onerous responsibility on the tax payer/remitter in India to analyze the transaction structure to determine the possible withholding tax implications. This would require analysis of the provisions of the Income Tax Act and the Double Taxation avoidance agreements (DTA) to determine the rights of state to tax a transaction as also the rate to applied in case tax is to be withheld.
Our firm has the expertise to assist business entities involved in cross border transactions and advise them on the applicability or otherwise of the provisions relating to withholding taxes and also assist in applying to the authorized dealers/banks for remittances in 15 CA and issue certificate needed for such remittances after determining the appropriate rate of tax
deduction at source (TDS) applicable in 15 CB.