Do i need to Deduct TDS when payment made to NRI Person outside India in Other Currency?
A non Resident Indian is Non Resident as per I T Act. Section 195 of the I T Act states that every payment made by any person to a non resident must suffer tax at source. The said provision states as under “195. (1) Any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest or any other sum chargeable under the provisions of this Act (not being income chargeable under the head Salaries shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in for …” You can read many articles on it at http://www.taxworry.
