Exemption to interest income on specified off-shore Rupee Denominated Bonds

 Rupee Denominated Bonds

Income tax department through press release has proposed amendment in case of Sec 194LC to exempt interest payable by Indian company or business trust to a non-resident , including foreign company in respect on rupee denominated bond issued outside India during the period of 17th September 2018 to 31st March 2019  and consequently no tax shall be deducted on the payment of interest u/s 194LC.

Legislative amendments in this regard shall be proposed in due course.

Click here for Press-Release-Exemption-to-interest-income-17-09-2018

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