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We are arranging buyers credit against import collection bills from foreign banks. Is it necessary to deduct TDS on the portion of interest payment of buyers credit??
Replies (4)
In this case who is arranging buyers credit loan. Directly from you or from your bank loacated in India.
Our bank Sbi in India send the LOU for arranging buyers credit to foreign bank. So its arranged through our bank in india we can say
Ok, that means, your bank will arrange fund on behalf of you and you are liable pay the same to your bank not to foreign bank. Then TDS is not applicable as there no direct trasaction between you and the bank who giving buyers credit loan.
Thank you very much sir
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