Non-resident entities seek withholding tax breather amid second Covid wave

In absence of certificates, they risk having 40% tax cut from revenues

Non-resident entities are in a fix over the extent of their withholding tax expense amid the second wave of Covid-19. As several such players have been unable to obtain low or nil withholding tax certificates in time, they risk having 40 per cent tax deducted from their revenues, making business unviable, experts said.
 
Such entities are now hoping for relief similar to that provided last year, when the finance ministry extended the validity of the previous year’s withholding tax certificate by three months to June 30 in view of the hardships faced due to the pandemic.
 
Non-resident players