will education cess be added to rate of 5% uder section 194LB for deducting TDS at the time of payment to NRI by way of interest on infrastructure debt fond reffered u/s10[47]?????????????
plz reply soon..........
Neelam (Student CA Final,) (116 Points)
17 March 2012will education cess be added to rate of 5% uder section 194LB for deducting TDS at the time of payment to NRI by way of interest on infrastructure debt fond reffered u/s10[47]?????????????
plz reply soon..........
CA Husain Shujai
(Chartered Accountant)
(200 Points)
Replied 17 March 2012
Education cess and secondary and higher education cess are applicable for TDS purposes in the case of tax deduction from payment of salary to a resident or a non-resident. Education cess and secondary and higher education cess are also applicable in the case of payment or credit of any other sum to a non-resident or a foreign company. In no other case, education cess and secondary and higher education cess are applicable for TDS purposes. So education cess is to be added to rate of 5% uder section 194LB for deducting TDS at the time of payment to NRI by way of interest on infrastructure debt fond reffered u/s10[47]
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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