Please find below the taxation policy for all the publishers registered with Rankz and doing business.
Withholding tax is applicable whenever any payment to blogger/publishers is made with a bank account based out of Indian territory. For all publishers based out of India, PAN number is a must to receive payments. Being it is a kind of royalty you made to your Writers/bloggers TDS
- 10% will be applicable for the payments send to publishers of Indian national having the PAN number or GST number.
- 20% if bloggers/publishers do not have Indian PAN or do not have Tax Residency certificate of its own country or foreign national. ( Tax Residency certificate is issued by Every country tax department certifying that the person is paying tax in that country)
- 10% if Bloggers have PAN or Have Tax Residency certificate.
What is Indian PAN:- Pan is a Unique Number allotted by Indian Tax Department. Any person from world can apply for this PAN and can take the benefit of 10% Tax Deduction instead of 20%. We can help with the procurement of the PAN number thought our accountants on a request basis.
How to exempt the tax deducted in your country-
Double taxation relief:
- If any payment made to a person outside India and Withholding Tax is deducted on it, the person can claim Double taxation relief in its country if that country signed an DTA agreement with India. India had signed DTA with almost all developed and developing countries. To claim the benefits of DTA the person have to follow the following
- Apply for Indian PAN
- RANKZ will deduct the tax and pay it to central government.
- RANKZ will file a TDS return and generate a certificate for all the deductees.
- These certificate will be issued to foreign nationals
- Foreign nationals will take the benefit of tax paid in India While filing the Return of Income in their respective countries.
- Whatever the tax liability come up in foreign country on the Income generated from India to a foreign Person, a deduction from such liability can be claimed of the amount of Tax paid in India on the basis of certificate issued to them by RANKZ.
If you have any payment related queries please feel free to reach out to us at [email protected].
This was last updated on 31st December 2019.