Non-resident withholding tax applies to chargeable non-salary payments without thresholds, including where overseas payers lack an Indian presence. Section 393(2), Serial No. 17 creates a residuary withholding-tax mechanism for interest not covered elsewhere and other chargeable non-salary sums paid ... Summary
Non-resident withholding tax applies to chargeable non-salary payments without thresholds, including where overseas payers lack an Indian presence.
Section 393(2), Serial No. 17 creates a residuary withholding-tax mechanism for interest not covered elsewhere and other chargeable non-salary sums paid to non-residents or foreign companies. Any payer must deduct tax at rates in force, without a monetary threshold, generally at the earlier of credit or payment. For interest payable by the Government, a Public Sector Bank, or a Public Financial Institution, deduction arises only upon actual payment. The obligation applies to resident and non-resident payers regardless of an overseas payer's presence in India.
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