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TDS on Interest

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(Querist)
05 April 2010 Whether TDS is liable to be deducted on Interest paid on Foreign Currency loans taken from Foreign Banks?
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Zeeshan

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Zeeshan (Expert)
05 April 2010 yes as per section 195. rate will be 10%
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Rachit

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Rachit (Querist)
20 April 2010 But as per sec 194A (3)(vii) it is not applicable to Banks
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