TDS on interest to foreign banks

A person responsible for making payment to a non-corporate non-resident assessee or to a company other than a domestic company, of any interest (other than interest on securities) or any other sum (not being salary) is required, at the time of payment or at the time of credit to the account of the payee (here HSBC), whichever is earlier to deduct income-tax thereon U/S-195 at the following rate: