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TDS

This query is : Resolved 
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(Querist)
16 March 2009 Hi friends,
Mr.A (exporter of India) sent a shipment to Mr.B (U.K.) at payment terms on 120 days. Mr.A has discounted the bill from Mr.C (A finance company at U.K.). Mr.C has sent the payment to Mr.A after deducting the interest and discounting charges.
1. is Mr.A is required to deduct the TDS on interest and discounting charges paid to Mr.C
2. under which section.
Please reply
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Rajesh Kumar

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Rajesh Kumar (Expert)
17 March 2009 No TDS is required to be deducted.
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