[aaykarbhavan] No liability of bank to withhold tax from cap gains remitted to a non-resident when it was merely acting as broker

No liability of bank to withhold tax from cap gains remitted to a non-resident when it was merely acting as broker

August 13, 2014[2014] 47 taxmann.com 263 (Mumbai - Trib.)

IT/ILT : Where assessee-bank was only acting as an authorized dealer to brokers of foreign residents in transferring funds in respect of share transactions which resulted in gains, it was not liable to deduct TDS under section 195

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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