What will happen if loan is taken outside india and later if he becomes resident in india,if he pays interest now to a non-resident,will he be required to deduct tax???
Nidhi Mehta ( ) (30 Points)
08 February 2010What will happen if loan is taken outside india and later if he becomes resident in india,if he pays interest now to a non-resident,will he be required to deduct tax???
Dear Nidhi,
Any Interest chargeable in the hands of receipent and payable Out of India, is liable to Deduct Tax . If tax is not deducted and if there is no person who may be treated as an agent , By virtue of Sec.25 Such interest on housing loan is not deductable in computing income chargeable under the head " Income from House Property."
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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