Amit Kumar (Accountant) (276 Points)
02 September 2014Dear All,
One of we have a party who give us loan now we have to pay him interest but after paying interest before tds amount in which head i have to deposited to income tax departement please suggest me sec:194A or 195 waiting for right answer
Thanks in Advance
Amit Kumar
Pankaj
(Student CA Final )
(52 Points)
Replied 02 September 2014
Section 194A will be applicable in this case.
Anubhav
(Chartered Accountant)
(429 Points)
Replied 02 September 2014
Hi,
Section 194A refers to income paid to a resident.
Whereas as per your case, income is to be paid to a non-resident. Hence Section 195 is to be referred.
For any further query PM or mail us.
AJH & CO.
info @ ajhco.in
Amit Kumar
(Accountant)
(276 Points)
Replied 03 September 2014
Anubhav Sir
Party gave us indian pan card and account of yes bank ut chandigargh and we have made payment to this account and one thing also should be clear that tax rate on this transaction need you answere sir waiting for that
Thanks in Advance
Amit Kumar
CAclubindia
