Sec 58 and sec 195 under income tax act,1961
This query is : Open
12 August 2011
With reference to provision of sec 58 and sec 195 whether we have to deduced TDS while making payment and depositing amount in NRO account, since wording used in sec 58 is tds is to be deduced when amount goes out of india and nro account balance remains in india
15 August 2011
Please provide complete fact
18 August 2011
Hi! Krishna, The facts are as follows:
Assessee is nri who has paid interest to party, who is also nri by directly depositing amount in his NRO Account without deducting TDS.
Now whether he has committed any default U/s 58 and whether that interest will be allowed to him as exp
Assessee is nri who has paid interest to party, who is also nri by directly depositing amount in his NRO Account without deducting TDS.
Now whether he has committed any default U/s 58 and whether that interest will be allowed to him as exp
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