Tds in absence of pan
Rate as per DTAA is 10%
However the Bank has given me PAN of Citi Bank, India.
Whether it is sufficient to have PAN of Citi Bank, India for compliance of Section 206AA or I need to deduct Tax @ 20%.
It is but obvious that every subsidiary of Citi Bank can't obtained PAN in every country of the world.
Please suggest from Client's point of view as the burden of TDS in on Client.
HAS COMPANY PAID THE INTEREST ON BUYERS CREDIT?
Any other expert opinion!!!!!!
THE PAN of Citibank India represents PAN of Citibank New York and that shall suffice the purpose of sec. 206AA however kindly take in writing from Citibank India that Citibank India was not involved in the loan transaction between Citibank Singapore and Indian party and no part of interest income payable to Citibank Singapore is attributable to Citibank India.
Anuj
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