TDS on NRI Interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2011
A resident Indian has taken loan from NRI. and he is not covered u/s 44AB for deduction of TDS.
Now question is
Whether payment to NRI in India rupees attracts TDS provision u/s 195 of IT Act as Resident India does not have TAN no? Whether he should apply for TAN No
In the above case, if loan is taken in indian Rupee from NRI (Ordinary Account)TDS is required to be deducted
Now question is
Whether payment to NRI in India rupees attracts TDS provision u/s 195 of IT Act as Resident India does not have TAN no? Whether he should apply for TAN No
In the above case, if loan is taken in indian Rupee from NRI (Ordinary Account)TDS is required to be deducted
17 June 2011
Yes the resident Indian should apply for TAN and deduct TDS.
Also the applicable provisions of FEMA applicable for loan from NRI also should be taken care of.
Anuj
0-9810106211
Also the applicable provisions of FEMA applicable for loan from NRI also should be taken care of.
Anuj
0-9810106211
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