We are having a parent company in Mauratius from whom we have availed a loan.It does not have any agent or place of Business in india. We are paying them Interest, deducting TDS & paying the same to the govt . However the parent company does not want the TDS to be deducted as it does not have income in Mauratius.Can we get TDS exemption certificate from Income tax authorities in India on behalf of our Parent company or the parent company have to obtain some certificate from the govt of Mauratius for no deduction of Tax . Is there any way out . please help.....
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TDS EXEMPTION
Replies (1)
India and Marutius have DTAA wherein the rate of withholding tax for interest mentioned therein is NIL (where there is benefitial ownership and u calling it parent company means the same), so in the first place there is no deduction needed at all
While deducting TDS u need to deduct the TDS as per DTAA or the Acc whiechever is lower. So there is no question of deducting TDS
I have answered the given query on the limited data available and teh opnion is restricted to the limitaions of the data provided, it should not be misconstrued or used for making me accountable.
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