Assessees must deduct TDS on usance interest to non-resident holding company u/s 195(1) of Income-tax Act.

TDS u/s 195 - usance interest on delayed payment to its holding company - The assessees being responsible for paying to the non-residents usance interest which was chargeable under the provisions of the Income-tax Act, 1961, were liable to deduct income-tax thereon under section 195(1) thereof - TDS liability confirmed. .....

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