TDS RATE ON INTREST PAYMENT TO U.K BANK
This query is : Resolved
03 December 2010
Hello Sir/madam,
One of our client take a Term loan from Standared Chartered Bank from U.K.Our client is in India & they are paying intrest to U.K based bank from india. my question is what is the rate of TDS on such intrest which is payed by our client.
Please reply as soon as possible.
Thanks in Advance
One of our client take a Term loan from Standared Chartered Bank from U.K.Our client is in India & they are paying intrest to U.K based bank from india. my question is what is the rate of TDS on such intrest which is payed by our client.
Please reply as soon as possible.
Thanks in Advance
04 December 2010
40% plus education cess. If payment is more than 1 Crore, surcharge is applicable.
04 December 2010
Sir I thnk its 10%. we get this rate from income tax website.
04 December 2010
I wrote the normal rate under Section 195. In case of Double Tax Aviodance Agreement, if tax is required to be assesed as per Section 115A, it will be 10%.
Message likes :
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05 December 2010
yes sir we need to follow DTAA i think its also compullsary. thank you very much sir for your support.
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