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Transfer of funds by assessee from its Indian bank account to its own foreign bank account does not attract TDS obligations u/s 195, as the provisions mandate TDS deduction only when payment is made to another person. Since the remittance was not to any other person but to assessee's own account, Section 195 is inapplicable. Consequently, assessee cannot be treated as "assessee in default" u/s 201 for non-deduction of TDS on such remittance.
Transfer of funds by assessee from its Indian bank account to its own foreign bank account does not attract TDS obligations u/s 195, as the provisions mandate TDS deduction only when payment is made to another person. Since the remittance was not to any other person but to assessee's own account, Section 195 is inapplicable. Consequently, assessee cannot be treated as "assessee in default" u/s 201 for non-deduction of TDS on such remittance.
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