This policy or notice applies to all customers of PeerXP, without exception.

About Tax Deducted at Source

India's Tax Deducted at Source (TDS) regulation requires the collection of income tax from the source of income. As a result, when making a taxable payment to PeerXP, the tax must be deducted from the payment according to the established rate and remitted to the Government of India.

The payments made to PeerXP for the Technical services provided by us may be subject to a TDS deduction of 2% only, in accordance with the Income Tax rules under Section 194J (Technical Services). Please refer to the notice, as per Govt. of India guidelines.

Credit for TDS Amount

If TDS Amount is NOT deducted at the time of invoice payments and instead paid by the Customer additionally, then PeerXP will provide a credit for the corresponding TDS amount upon submission of a valid TDS certificate from the Govt.

TDS certificates must be submitted quarterly, in accordance with the timeline specified in the relevant Indian tax statutes. Certificates for quarters ending in June, September, December, and March must be issued by the end of July, October, January, and mid-May respectively.

TDS certificates for the previous financial year must be received by the 31st of May of the current financial year. For example, all certificates for the fiscal year 2021 must be received by May 31st, 2022.

Sending TDS certificates to PeerXP

If the TDS certificate is digitally or electronically signed by the Indian government and received as a signed PDF through an authorized Government email address, kindly forward a copy to [email protected].

After the certificate has been validated and the TDS amount has been authorized, the amount will be credited to your account within five business days.

If the TDS certificate is not electronically signed, you may submit a signed paper copy of your TDS certificate via post to:

PeerXP Services Private Limited

#1502, Hustlehub H1904, 2nd Floor, 19th Main

Sector 1, HSR Layout, Bengaluru, Karnataka, IN - 560102

Once we have received and validated the certificates, we will apply a credit to your account.

Upon receipt of the TDS certificate, PeerXP will require up to five business days for processing.

🕒 Last updated: @August 20, 2020

For any further queries, please reach out to us at [email protected].