Please Help: TDS Rate of Interest paid to Citi Bank Bahrian
Posted Date : 01-Jul-2011 , 12:18:34 pm | Posted By CA Mordhwaj Garg
One of My client was Interest paid to Citi Bank, State - Baharin. Citi bank having PAN No. also. Plz confirm of Rate of TDS on Interest payment to Citi Bank Baharin. There are No DTAA with Baharin but DTAA with USA (New york) where is registered in Citi Bank.
Category : Income Tax | Answers : 1 | Comments : 5 | Hits : 1103
Answers
Answer By: Vikash Kumar Jha
Section 195 will be applicable and TDS rate should be 10%.
Comments
CA Rajnish
01-Jul-2011 , 01:16:46 amProvision of section 194A of I.T. is not applicable where the interest paid to any Banking Company.So TDS not required in this situation.
CA VIPIN GARG
01-Jul-2011 , 02:47:19 amThe rate of TDS should be 10% only.
CA SUBHASH KR.
01-Jul-2011 , 06:31:16 amHere Sec 194A is not applicable but Sec 195 is applicable and TDS would deducted from Bank also.
CA VIPIN GARG
02-Jul-2011 , 02:38:20 pmI am totally agree with Subhash Kr. Ji.
CA Mordhwaj Garg
03-Jul-2011 , 08:05:21 pmi am agree with subhash Kr. ji. in case sec. 195 is applicable. but Which Rate of TDS applied.