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payment of interest loan taken from NRI(TDS applicable ?)

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04 September 2010 Individual A has taken loan from an NRI of say Rs 15,00,000.00 during F Y 2009-2010.He have to pay interest on the loan. his accounts are not in audit in f y 2008-2009. Is he have to diduct TDS on interest payment and if he than at what rate.
Thanks
U.B.Mittal
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
10 September 2010 yes. TDS applicable subject to the rate under DTAA for the particular country and Sec.195
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