There is an TDS dection made by Income Tax CPC u/s 195 on interest paid to an HUF Assessee who is resident.??
Is there something else other than Payment to NRI u/s 195 ..??
TDS was deducted at the rate of 30% with 2% +1% cess.
Please confirm
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Tds section 195
Replies (3)
There are few points:
1. HUF being resident - Section 195 is not applicable to the HUF.
2. However, TDS to be deducted is the lower of the following:
a) Rate as per DTAA
b) Slab Rates
c) Rates as per provision of Section 115 (applicable to NRI)
Based on above the TDS should be deducted and not @ 30%.
But the TDS has been deducted by the AO CPC u/s 195 for HUF on Interest paid by him on TDS refund.
The HUF or Karta both are resident. So why its being done its a matter of a question
Anyone else if have revceived such deduction please share about it.
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