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
Category :
Income Tax | Answers :
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Comments :
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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. |
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Answers:
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 Answer by: Vikash Kumar Jha |
| Section 195 will be applicable and TDS rate should be 10%.
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| Comments |
| Posted By : CA Mordhwaj Garg |
03-Jul-2011, 08:05:21 |
| i am agree with subhash Kr. ji. in case sec. 195 is applicable. but Which Rate of TDS applied. |
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| Posted By : CA VIPIN GARG |
02-Jul-2011, 02:38:20 |
| I am totally agree with Subhash Kr. Ji. |
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| Posted By : CA SUBHASH KR. |
01-Jul-2011, 06:31:16 |
| Here Sec 194A is not applicable but Sec 195 is applicable and TDS would deducted from Bank also. |
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| Posted By : CA VIPIN GARG |
01-Jul-2011, 02:47:19 |
| The rate of TDS should be 10% only. |
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| Posted By : CA Rajnish |
01-Jul-2011, 01:16:46 |
| Provision of section 194A of I.T. is not applicable where the interest paid to any Banking Company.So TDS not required in this situation. |
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