Tds on interest on refund
This query is : Resolved
Darshan Gandhi
(Querist)
31 January 2015
when gov. is not deducting TDS on interest paid on refund. why should we?
31 January 2015
Now that's the rule. Department is PAN and TAN issuing authority. Now you can't ask them to apply for TAN and start deducting TDS and filing TDS return. Department cant deduct TDS and pay it to themselves. Sounds very illogical.
31 January 2015
But TDS provisions attracts on the interest on refund paid to NRI assessee's.
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01 February 2015
But Sir whether the entire TDS procedure is followed or it is just tax withholding. Sir kindly provide section reference.
01 February 2015
Gupta Ji
Interest paid by government to a RESIDENT is excluded from TDS provisions by section 194A(3)(viii).
But interest paid by government to a NON-RESIDENT is subject to TDS u/s 195 of the Income tax Act,1961.
Interest paid by government to a RESIDENT is excluded from TDS provisions by section 194A(3)(viii).
But interest paid by government to a NON-RESIDENT is subject to TDS u/s 195 of the Income tax Act,1961.
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