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Which tds rate should i taken 5% or 10%?

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07 January 2015 Dear Experts First of all wish you very Happy new year :) i m going to payment of interest of ECB loan payment to a foreign bank. Tds rates given in below as per DTAA rate -10% as per IT act section 194LC-5% so please suggest me which rate should i taken ? and why? Thanks & Regards Abhimanyu Shekhawat abhimanyushekhawat1@gmail.com
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CA. Anoop Bhatia

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CA. Anoop Bhatia (Expert)
07 January 2015 Even if DTAA rate is 10% if the provision of Income Tax Act 1961 (i.e. 194LC) is more beneficial the TDS rate applicable should be 5% only.

However you need to ensure that ECB loan payment in your case duly satisfies the conditions of section 194LC.
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