03 February 2014
Thnks for your interest in the matter....TDS on foreign branch of domestic bank will not be applicable... as the foreign branch is also a resident U/s 9 of IT Act.
03 February 2014
You are right. The Indian bank is resident and a foreign branch of an Indian bank will continue to be a resident because a branch is not a separate entity. Section 9 has no role in this. Further S.194A(3) (iii) confers an exemption to income credited or paid to any banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies. The foreign branch of an Indian bank will qualify for this exemption
CAclubindia
