Tds on interest paid to ifc

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2012 Dear Sir,

While making payment to International Finance Corporation towards interest on ECB loan, at what rate TDS need to be deducted.

Is there any exemption for withholding tax. If so please let me know the section please.

Thanks & Regards

CA abhishek Jain

CA abhishek Jain (Expert)
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31 August 2015
I am also facing the same problem, whether you get any solution regarding your query?

Whether we need to deduct TDS in case of interest payment to IFC, yes then which section says? sec10(6) doesnt have any clause which exempt from deducting TDS.

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2016 I think it covers under section 9 “Immunities from Taxation” of the International Finance Corporation (Status, Immunities and Privileges) Act 1958, the Corporation is immune from all the taxation. In case you have better ground for non deduction tax while making interest payment to IFC please let me know.