whether TDS is applicable on Payment of interest to HSBC. If yes under which section and what rate
1 Replies
Prabeer
(B. COM (H) CA & CS Final)
(5484 Points)
Replied 21 November 2008
A person responsible for making payment to a non-corporate non-resident assessee or to a company other than a domestic company, of any interest (other than interest on securities) or any other sum (not being salary) is required, at the time of payment or at the time of credit to the account of the payee (here HSBC), whichever is earlier to deduct income-tax thereon U/S-195 at the following rate:
|
INCOME TAX |
SURCHARGE |
EDUCATION CESS |
SHEC |
TOTAL TDS RATE |
|
20 |
0.5 |
0.41 |
0.205 |
21.115 |
Recent Topics
- Omr wrongly shaded
- RCM applicability if received from registered deal
- GST - bill to ship to
- TDS and GST ITC on Membership fees to club
- ITC on Canteen Services by Outsiders
- STPI/Non-STPI registration
- 6 DIGIT HSN CODE QUERY
- TDS on Telephone charges and Internet charges
- CGT on Policies purchased in LIC International whe
- RCM Rate on GTA Services
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
