Deduction of TDS on interest by IT Department

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37 Points Posted on 06 July 2020
Can Income Tax Department deduct TDS on interest paid to a non-resident assessee u/s 244A? If yes, under which section?
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On 06 July 2020 at 22:26 Report
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This discussion clarifies whether the Income Tax Department is authorised to deduct Tax Deducted at Source (TDS) on interest paid to non-resident assessees under Section 244A. It is confirmed that TDS is applicable under Section 195 for payments made to non-residents. The standard rate for such TDS, in the absence of specific treaty provisions, is identified as 31.2%.

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3235 Points Posted on 06 July 2020
Under section 195 as stated any payment made to non resident liable for TDS u/s 195
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On 06 July 2020 at 22:50
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37 Points Posted on 08 July 2020
Thanks sir, one more query, at what rate they can deduct such TDS?
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On 08 July 2020 at 16:45
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Practice
3235 Points Posted on 08 July 2020
Any other income rate 31.2%
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On 08 July 2020 at 16:50
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37 Points Posted on 08 July 2020
Thanks sir.
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On 08 July 2020 at 16:52

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