Is TDS applicable on online transaction?

According to Section 194O, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant. TDS on e-commerce operators under section 194-O is applicable from 1 October 2020.

Is TDS applicability on services rendered outside India?

9(1)(vii) of the Act, are utilized in India, then the same are liable to tax in India, irrespective of the place where such services are rendered. Thus, such services are considered to be liable to tax in India, even if they are rendered outside India.

What is the TDS rate on foreign remittance?

TDS Rates FY 2021-22 (AY 2022-23) for Non-residents

Section	For Payment of	TDS Rate
195	Other Payments to Foreign Company
(a) LTCG referred to in Section 112(1)(c)(iii)	10\%
(b) LTCG referred to in Section 112A	10\%
(c) STCG under Section 111A	15\%

Is there any tax on sending money abroad from India?

Money remitted outside India will be subject to a 5\% tax collected at the source (TCS). Needless to say, unless tax has already been deducted at source (TDS), every overseas transfer above Rs 7 lakh would be subject to a tax-collected-at-source (TCS).

How do I claim TDS deducted by ecommerce?

TDS Certificate The e-commerce operator is required to issue Form 16A to the e-commerce seller. This form can be used by the seller to claim credit of the tax deducted while filing the Income Tax Return.

Who is required to deduct TDS u/s 195?

Under the provisions of section 195, any person who is responsible for paying any interest or any other sum chargeable to tax is liable to deduct tax at source. This is applicable in a case where the payment is being to a non-resident(excluding company) or a foreign company.

Is there any tax on foreign remittance?

The Finance Minister, in the last financial year had introduced a Tax Collected at Source (TCS) of 5\% on all outward remittances above ₹7 lakh. The Finance Minister, in the last financial year had introduced a Tax Collected at Source (TCS) of 5\% on all outward remittances above ₹7 lakh.