Tds u/s 195
This query is : Resolved
CA EKTA SHAH
(Querist)
06 July 2012
Dear Sir / Madam,
Kindly give your views on following matter,
Our client has taken loan from company situated in Cyprus. As on 31.03.2012 it is making provision for the interest expenses and it has not made any payment till date. I just wanted to know whether TDS on interest u/s 195 is required to be deducted at the time of payment or at the time of provision.
Kindly give your views on following matter,
Our client has taken loan from company situated in Cyprus. As on 31.03.2012 it is making provision for the interest expenses and it has not made any payment till date. I just wanted to know whether TDS on interest u/s 195 is required to be deducted at the time of payment or at the time of provision.
Arihanth Jain
(Expert)
07 July 2012
As per Sec 195(1), credit or payment whichever earlier except in case of interest paid by Govt/PSB/PFI.
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