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Tds on interest for late payment for import

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(Querist)
24 November 2011 Whether TDS should be deducted on interest paid to foreign company on late payment on import of goods from the foreign company? Or is it not liable for deduction of TDS?
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
24 November 2011 Yes...TDS applicable as per DTAA clause

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