Importer remitting USD for his import purchase. Banker is asking for Form 15CB. The payment is actually for an ECB ( ie)., to the foreign branch of a bank of Indian origin. This foreign branch has already paid the sum to the foreign supplier. Now it is receiving the amount from the Indian importer alongwith Interest.
Queries:
What name is to be filled up in the "Beneficiary" column? The supplier or the Bank name?
Is the interest component liable for TDS? If yes, can we use DTAA?
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