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payment to non resident

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(Querist)
13 August 2008 the domestic indian co. has import goods from foreign co. and for the payment of the the same the co. has taken buyers credit from domestic indian bank. and bank has tie up with foreign bank and the amount will paid by our bank directly to that foreign bank.

now indian co. have to paid interest on this credit to domestic bank. so what is the TDS rate applicable on interest paid to the bank. in addition to is there any surcharge or edu.cess
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
13 August 2008 Please se section 195.
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CA Chetan Patel

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CA Chetan Patel (Querist)
14 August 2008 on which amt indian or foreign currency
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