dear all,
one of my client is an importer....he import oil from a company in singapore....singapore co. gave us commercial invoice & interest invoice....that company gave us credit period of 90 days in interest invoice ....that company discounts the bill with his STANDERED CHARTERED BANK ,SINGAPORE....NOW WE ARE LIABLE TO PAY SUCH AMOUNT(IMPORT VALUE WITH INTEREST AMOUNT) to SCB,SINGAPORE.....NOW MY QUESTION IS...
1.WHETHER WE ARE LIABLE TO DEDUCT TDS ON INTEREST AMOUNT PAID TO SCB,SINGAPORE....
2. DTAA WITH SINGAPORE IS NEED TO CONSIDER....
3.WHETHER SEC115A IS APLLICABLE RATE OR DTAA RATE WHICHEVER IS LOWER....
4.IF WE DEDUCT TDS THEN PAN NO. OF SCB,SINGAPORE.....
5.TDS DEDUCTED SHAL BE OUT OF CLIENT POCKET....
CAclubindia
