We will know about the TDS Rate in Nepal 2079/80. TDS means tax deduction at source.
TDS Rate in Nepal 2079/80
Following is the TDS Rate in Nepal 2079/80.
|On interest, royalty, service charge, retirement payment source|
in Nepal, except mentioned otherwise
|Payment made to resident person on service charge invoiced in VAT|
bill or to a resident entity carrying out VAT exempt transaction.
|On Nepal sourced interest by banks and financial institutions and/ or listed companies|
to a natural person except made connection with business.
|On payment made by a resident person for rent having source in Nepal.|
No TDS is required on vehicle rent paid to owners of public vehicles who pay
presumptive tax each year.
|Payment made to a person registered in VAT and running business of giving vehicles on rent.||1.5%|
|On payment of gain from investment insurance.||5%|
|On payment of gain from retirement fund.||5%|
|Resident person making payment of dividend having source in Nepal||5%|
|On payment of commission by resident employer company to a non-resident person.||5%|
|On payment of lease rental of aircraft.||10%|
|Payments of returns to natural person by mutual fund||5%|
More TDS Rates
|On windfall gains. Except national and international level prices as prescribed by Nepal Government. But there shall be no windfall gain tax on national and international prizes/ awards up to Rs. 5,00,000 in case the awards are achieved due to contribution towards literature, art, culture, sports, journalism, science, technology, and public administration.||25%|
|On contract payments exceeding Rs. 50,000. The limit of Rs. 50,000 is calculated by adding contract payments of last 10 days to the same person on same contract.||1.5%|
|On contract payments made by residents person to non-residents person|
|1. On repair of aircrafts and other contracts||5%|
|2. Premium paid to non-residents insurance company||1.5%|
|3. In other cases, if written notice is issued to the payer residents person||As per rate prescribed in Notice.|
Hence, these are the TDS Rate in Nepal 2079/80. Moreover, these tax rates keep changing in each fiscal year.
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