Which tds rate should i taken 5% or 10%?
This query is : Resolved
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
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.
However you need to ensure that ECB loan payment in your case duly satisfies the conditions of section 194LC.
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