tds u/s 195
This query is : Resolved
seema wadhwa
(Querist)
26 May 2011
private limited company paid interest to non resident whether witholding tax u/s 195 will be levy or not and is there any withholding tax on freight payment to non resident u/s 195
CA MANOJ GUPTA
(Expert)
26 May 2011
1.U HAVE NOT STATED THE PUPRPSOE FOR WHICH INTEREST PAYABLE
EVERY INTEREST PAID BY A RESIDENT IS DEEMED TO ACCRUE OR ARISE IN INDIA except where the interest is payable in respect of any debt incurred or moneys borrowed and used, for the purposes of a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India
IF UR CASE IS NOT COVERED BY EXCEPTION THEN TAX DEDUCTION IS A MUST
2. THE TAX DED IN CASE OF FREIGHT PAYMENT WILL DEPEND ON MANY FACTORS
U WILL HAVE TO SHARE FULL FACTS REGARDING THE PAYMENT
CA MANOJ GUPTA
JODHPUR
09828510543
EVERY INTEREST PAID BY A RESIDENT IS DEEMED TO ACCRUE OR ARISE IN INDIA except where the interest is payable in respect of any debt incurred or moneys borrowed and used, for the purposes of a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India
IF UR CASE IS NOT COVERED BY EXCEPTION THEN TAX DEDUCTION IS A MUST
2. THE TAX DED IN CASE OF FREIGHT PAYMENT WILL DEPEND ON MANY FACTORS
U WILL HAVE TO SHARE FULL FACTS REGARDING THE PAYMENT
CA MANOJ GUPTA
JODHPUR
09828510543
CA. Anuj Gupta
(Expert)
26 May 2011
Yes there shall be liability to deduct TDS in both the cases.
Also check whether FEMA provisions have been complied for loan from NRI.
Anuj
0-9810106211
Also check whether FEMA provisions have been complied for loan from NRI.
Anuj
0-9810106211
CA MANOJ GUPTA
(Expert)
27 May 2011
THE QUESTION OF TAX DEDUCTION UNDER SECTION 195 IN CASE OF NON-REESIDENTS ARISE ONLY IF THE SUM PAYABLE TO THEM IS CHARGEABLE TO TAX IN INDIA IF PAYMNT IS NOT CHARGEABLE TO TAX NO TAX DEDUCTION IS REQUIRED
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