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tds

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30 July 2010 whether TDS is applicable when Interest paid in india to foriengn Bank.
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CA Ujjaval Desai

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CA Ujjaval Desai (Expert)
31 July 2010 Yes TDS is applicable on Interest paid to Foreign Banks u/s 194A as Foreign Banks are not coverded under Banking Regulation Act,1949(10 of 1949). TDS is not applicable only in case of Interest payment to India Banks

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