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Tds on nri whose pan from usa

Amit Kumar (Accountant) (276 Points)

07 August 2014

Dear All,

I would like to ask all the experts that one of our party who give up us money as a unsecured loans and the party residents to United State of America not we have to pay them interest according the deed now matter is TDS is liable to the interest payment to party if yes than what is the percentage for deductions waiting for correct reply.

Thanks in advance

Amit Kumar

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6 Replies

Anubhav (Chartered Accountant) (429 Points)
Replied 07 August 2014

Hi,

you need to clarify 3 things:-

- Date of money borrowed.

- Is there a loan agreement.

- Is the money borrowed in foreign currency.

Mail or PM me.

AJH & CO.

anubhavjain @ ajhco.in

9868729930

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Anubhav (Chartered Accountant) (429 Points)
Replied 07 August 2014

Hi,

you need to clarify 3 things:-

- Date of money borrowed.

- Is there a loan agreement.

- Is the money borrowed in foreign currency.

Mail or PM me.

AJH & CO.

anubhavjain @ ajhco.in

9868729930

Anubhav (Chartered Accountant) (429 Points)
Replied 07 August 2014

Hi,

you need to clarify 3 things:-

- Date of money borrowed.

- Is there a loan agreement.

- Is the money borrowed in foreign currency.

Mail or PM me.

AJH & CO.

anubhavjain @ ajhco.in

9868729930

Amit Kumar (Accountant) (276 Points)
Replied 09 August 2014

Dear Anubhav Sir,

Loan was taken before a year and there is no deed was made for this and money was taken in indian currency. I think how we can deduct the tds because creditor's pan is from usa and there is no record in indian government. than how Income Tax Department can issue TDS Certificate please explain it waiting

Thanks in advance

Amit kumar