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TDS on interest paid to Foreign Branch of Indian Bank


22 April 2010 Whether TDS need to be made on intt. payments to foreign branch of indian banks?
More so, when intt. payment to indian banks no TDS needs to be done as per 194A.

22 April 2010 TDS not applicable.

22 April 2010 If you could substantiate the reason/logic


22 April 2010 AS PER MY OPINION TDS NOT TO BE DEDUCTED--
As no TDS to be deducted from A banking company to which the Banking Regulation Act 1949 applies.
View of other experts solicited.

22 April 2010 Will such intt. payment be not covered u/s 195 since remittance to be made in foreign currency?

22 April 2010 BUT 195 IS APPLICABLE FOR NON RESIDENT AND HERE BANK IS RESIDENT.

22 April 2010 Views of other experts solicited.

22 April 2010 if other experts could come in and share their views




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