section 195

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2010 Sir/Mam,
as per provision of sec 195 of income tax act, any payment made to a Non Resident is liable for deducting tax. Hence in case, interest received from bank on savings a/c by Non Resident, whether bank is liable for deducting tax?
or in case, Rent received by Non Resident, tenant is liable to deduct tax? Here i just want to know the exact meaning of 'Any Payment'.

M Prabhakar Menon

M Prabhakar Menon (Expert)
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18 February 2010 Yes bank will deduct TDS if it crosses the limit.Any payment includes credit to the account of the payee by book entry also.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2010 Payment by an individual Tenant whether he is liable to deduct TDS?

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