TDs on Interest Paid to NRi
This query is : Resolved
CA Chintan Parikh
(Querist)
16 April 2011
Dear Expert
a private Ltd Company paid a Interest on Unsecured Loan to NRI. Such Fund invested by NRI from his/her Past income earned in India.
What rate of TDS to be deducted
a private Ltd Company paid a Interest on Unsecured Loan to NRI. Such Fund invested by NRI from his/her Past income earned in India.
What rate of TDS to be deducted
CA MANOJ GUPTA
(Expert)
17 April 2011
if money has been borrowed in foreign ncurrencyb than at 20 pc otherwise 30pc
CA. Anuj Gupta
(Expert)
02 June 2011
As per FEMA ,Indian Company is not allowed to borrow from NRI . There is a special scheme called ECB wherein lot of formalities need to be observed before taking such loan.
The rate shall have to be 20.6% and 30.9% respectively. Also the relief under DTAA's are also available to NRI.
Anuj
0-9810106211
The rate shall have to be 20.6% and 30.9% respectively. Also the relief under DTAA's are also available to NRI.
Anuj
0-9810106211
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