Jishnu Surendran (Finance Manager) (312 Points)
14 October 2015A partner stays outside of India to promote export operations of his business in India making him a Non - resident as per exact definition of the same by the Act. Is there anyway by which he can get relaxation of Section 194A if the firm pays him interest on capital as the same is included for the purposes of TDS.
Shishir Nayak
((Expert))
(369 Points)
Replied 15 October 2015
Non applicability of TDS on Interest paid to partners u/s 194A(3)(iv) is restriced to partners those who are resident in India. Here, the partner is a non-resident and hence Tds u/s 195 will attract
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