My organisation has taken a loan from an Indian bank foreign branch say Bank of India from its branch in scotland do i need to deduct tax on interest on loan taken under section 195 of indian income tax act 1961...
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Withholding tax
Replies (3)
I don't think so , it is a normal bank transcation, when you pay interest for the loan amount taken. Memebrs pls provide your deep insights
Interst on loan taken from an indian bank is excemted from deduction of tds so shall i be excempted under the same ......
Ronak, yes your understanding is correct.
Anuj
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