Deductibility of interest on securities curtailed where tax not paid or deducted and no agent in India. Section 21 was omitted. Previously it deemed interest on securities payable outside India nondeductible for computing income where tax had not been paid ... Summary
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Deductibility of interest on securities curtailed where tax not paid or deducted and no agent in India.
Section 21 was omitted. Previously it deemed interest on securities payable outside India nondeductible for computing income where tax had not been paid or deducted under the withholding regime and no person in India could be treated as an agent for tax purposes.
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