Countries with which India has Double Tax Avoidance Agreement (DTAA)
ANNEXURE-1
WITHHOLDING TAX RATES APPLICABLE ON INTEREST ON DEPOSITS IN CONNECTION WITH INDIA’S TAX TREATIES WITH VARIOUS COUNTRIES:
| S.No. |
Name of the Country |
TDS
Rate
(%) |
S.No. |
Name of the Country |
TDS
Rate
(%) |
S.No. |
Name of the Country |
TDS
Rate
(%) |
| 1 |
ALBANIA |
10 |
33 |
ISRAEL |
10 |
64 |
QATAR |
10 |
| 2
|
ARMENIA |
10 |
34
|
ITALY |
15 |
65
|
ROMANIA |
10 |
| 3
|
AUSTRALIA |
15 |
35
|
JAPAN |
10 |
66
|
RUSSIA |
10 |
| 4
|
AUSTRIA |
10 |
36
|
JORDAN |
10 |
67
|
SAUDI ARABIA |
10 |
| 5
|
BANGLADESH |
10 |
37
|
KAZAKHSTAN |
10 |
68
|
SINGAPORE |
15 |
| 6
|
BELARUS |
10 |
38
|
KENYA |
15 |
69
|
SLOVENIA |
10 |
| 7
|
BELGIUM |
15 |
39
|
KOREA(ROK) |
15 |
70
|
SERBIA |
10 |
| 8
|
BHUTAN |
10 |
40
|
KUWAIT |
10 |
71
|
SOUTH AFRICA |
10 |
| 9
|
BOTSWANA |
10 |
41
|
KYRGYZSTAN |
10 |
72
|
SPAIN |
15 |
| 10
|
BRAZIL |
15 |
42
|
LATVIA |
10 |
73
|
SRI LANKA |
10 |
| 11
|
BULGARIA |
15 |
43
|
LIBYA |
30 |
74
|
SUDAN |
10 |
| 12
|
CANADA |
15 |
44
|
LITHUANIA |
10 |
75
|
SWEDEN |
10 |
| 13
|
CHINA |
10 |
45
|
LUXEMBOURG |
10 |
76
|
SWITZERLAND |
10 |
| 14
|
COLUMBIA |
10 |
46
|
MALAYSIA |
10 |
77
|
SYRIA |
10 |
| 15
|
CROATIA |
10 |
47
|
MALTA |
10 |
78
|
TANZANIA |
10 |
| 16
|
CYPRUS |
10 |
48
|
MAURITIUS |
10 |
79
|
THAILAND |
10 |
| 17
|
CZECH REPUB |
10 |
49
|
MONGOLIA |
15 |
80
|
TRINIDAD & TOBAGO |
10 |
| 18
|
DENMARK |
15 |
50
|
MONTENEGRO |
10 |
81
|
TAJIKISTAN |
10 |
| 19
|
EGYPT |
30 |
51
|
MOROCCO |
10 |
82
|
TURKEY |
15 |
| 20
|
ESTONIA |
10 |
52
|
MOZAMBIQUE |
10 |
83
|
TURKMENISTAN |
10 |
| 21
|
ETHIOPIA |
10 |
53
|
MYANMAR |
10 |
84
|
UGANDA |
10 |
| 22
|
FIJI |
10 |
54
|
MACCDONIA |
10 |
85
|
UKRAINE |
10 |
| 23
|
FINLAND |
10 |
55
|
NAMIBIA |
10 |
86
|
UAE |
12.5 |
| 24
|
FRANCE |
10 |
56
|
NEPAL |
10 |
87
|
UK |
15 |
| 25
|
GERMANY |
10 |
57
|
NETHERLANDS |
10 |
88
|
US |
15 |
| 26
|
GEORGIA |
10 |
58
|
NEW ZEALAND |
10 |
89
|
UNITED MEXICAN ST |
10 |
| 27
|
GREECE |
30 |
59
|
NORWAY |
10 |
90
|
URUGUAY |
10 |
| 28
|
HUNGARY |
10 |
60
|
OMAN |
10 |
91
|
UZBEKISTAN |
10 |
| 29
|
HONG KONG |
10 |
61
|
PHILIPPINES |
15 |
92
|
VIETNAM |
10 |
| 30
|
ICELAND |
10 |
62
|
POLAND |
10 |
93
|
ZAMBIA |
10 |
| 31
|
INDONESIA |
10 |
63
|
PORTUGAL |
10 |
|
|
|
| 32
|
IRELAND |
10 |
|
|
|
|
|
|
* Domestic Rate
The The Finance Act states that the education cess is an additional surcharge. The Bank should not apply the education cess on the above rates (except for domestic rate) because as per the above treaties the terms ‘taxes’ are defined to include surcharge also.