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FOREIGN PAYMENTS

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(Querist)
11 March 2011 Interest payment on Foreign currency convertable bonds and the payment is more than 1 corore.

Surcharge & Cess is applicable for this payment or not?
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Rajan Kapoor

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Rajan Kapoor (Expert)
11 March 2011 Yes, surcharge @ 2.50% on foreign company and education cess @ 3% is applicable

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