TDs on Interest Paid to NRi

This query is : Resolved 

16 April 2011 Dear Expert

a private Ltd Company paid a Interest on Unsecured Loan to NRI. Such Fund invested by NRI from his/her Past income earned in India.

What rate of TDS to be deducted

17 April 2011 if money has been borrowed in foreign ncurrencyb than at 20 pc otherwise 30pc

02 June 2011 As per FEMA ,Indian Company is not allowed to borrow from NRI . There is a special scheme called ECB wherein lot of formalities need to be observed before taking such loan.

The rate shall have to be 20.6% and 30.9% respectively. Also the relief under DTAA's are also available to NRI.

Anuj
0-9810106211




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