Originally posted by : Sowmya.S.Balan |
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DEar sir,
What is the rate for deducting TDS on payment of interest to non resident?
IF the non resident have no PAN whether redund is receivable or not?
if not receivable can it be rectified by taking new PAN & revising return
please very urgent |
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If an Indian Company is paying interest to NRI, first let me clarify that INDIAN COMPANY can't take loan from NRI under FEMA(either in Indian Rupees or foreign currency)on repatriation basis.
The same is only permitted under non repatriation basis.
Also the period cannot exceed 3 years.
Also the said funds should not be used for real estate activities.
Anuj
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